CENTRAL REGION
$5 million FCLF financing (2 loans)
Construction to term financing
24 units of affordable supportive housing

Wings of Grace Ministries, founded in 2010, provides spiritual education, housing, and community development with focus areas including affordable housing, missions, and teen ministries. Wings of Grace owns and manages affordable housing, providing rental homes that can be stepping stones to home ownership for individuals and families who have difficulty finding housing due to low income, poor credit, or criminal histories.

Through its work with youth, Wings of Grace has developed several programs to mentor teens, the premier being an aviation program where students can earn flight hours towards a private pilot’s license by performing community service. Participants can earn flight (or music) lessons through community service hours working on the rental properties or other volunteer opportunities.

With financing from Florida Community Loan Fund, Wings of Grace is building a new 24-unit rental community in Melbourne, Florida. The community, named Capernaum Place Apartments, will offer affordable housing and supportive services to youth aging out of foster care and other at-risk young adults. A local nonprofit, WAYS for Life, will partner with Wings of Grace to provide wrap-around services such as needs assessment, continuing education, life skills, mental health, healthcare, and legal assistance. A partnership with the Housing Authority of Brevard County will provide management of the property including administration of Housing Choice Vouchers.

Capernaum Place will provide vital housing and services in an area where the median income is 75% of AMI (Area Median Income) and 67% of the population is minority. The neighborhood is close to historic downtown Melbourne, providing easy access to shopping, restaurants, and other commercial development.

FCLF received a Capital Magnet Fund (CMF) award from the Community Development Financial Institutions (CDFI) Fund, which allowed FCLF to offer more favorable terms to Wings of Grace Ministries to further help the project be successful.

www.wingsofgraceministries.org

Pictured above, architectural rendering of Capernaum Place apartments, developed by Wings of Grace Ministries.