FCLF LOANS $890,000
3 loans for 25 rental apartments
$3.6 million total project costs
“Thank you to FCLF for the hard work and effort on the C.B. Dailey Project. We are now one step closer to providing a permanent housing solution for veterans and others that are seeking quality housing at an affordable price. This project continues to be a critical component of the Renew Jax initiative for East Jacksonville.” ‒ Carrie Davis, Executive Director
In 2001, a group of financial service professionals in Jacksonville asked this question: What is the foundation for not only individual financial success, but also for a community’s economic stability? The answer they arrived at: every person in a community needs access to financial education. They also recognized that affordable housing, whether home ownership or rental, is an important vehicle in building wealth and economic stability.
This was the beginning of Wealth Watchers, Inc., a nonprofit organization based in Jacksonville and providing services throughout Florida. Since 2001, Wealth Watchers has built, renovated, or managed single family homes for sale, rental homes and communities, and offers an array of services including financial literacy, homebuyer education, and more.
The organization’s newest project is the C.B. Dailey Villas, new construction of a 24-unit apartment complex in Jacksonville’s Eastside Neighborhood designed for single military veterans in need of stabilization. With Florida Community Loan Fund financing of $625,000 and additional funding from the City of Jacksonville and others, this project includes 1-bedroom apartments with amenities such as energy-efficient appliances, a fitness center, and billiards room. On-site services will be provided through a partnership with the Clara White Mission, such as job training, life skills classes, and mental & physical health assessment, education and counseling. The apartments will be available to veterans with moderate and low income, with 25% of the units reserved for very low-income residents.
Other FCLF loans to Wealth Watchers helped acquire or renovate affordable rental units and foreclosed homes for ownership.
Pictured above, an architectural rendering of the C.B. Dailey Villas.
For more information visit www.wealthwatchersfl.com