Total financing of $94M closed October 11, 2024, commencing new construction of the 252-unit Renaissance Hall rental community in suburban Golden Gate. The project is financed in part by U.S. Department of Treasury (under Federal Award Number 1505-0271) and Collier County Community & Human Services Division, PGIM’s HUD 221(d)(4) program, Collier’s International, Collier County’s and…
Rural Neighborhoods’ President, Steven Kirk, participated in a White Housing roundtable on rural housing on Wednesday, July 24th. The policy discussion brought together twenty-five rural and tribal housing professionals from around the country together with leadership from Domestic Policy Council, USDA and HUD. Undersecretary of Agriculture for Rural Development Basil Gooden, HUD Deputy Assistant Secretary…
Five Immokalee residents participated in resident leadership training in Orlando from August 14–17, 2024, joining over 150 other local citizens from urban and rural communities. The training organized by the Florida NeighborWorks Collaborative offered courses in Resident Engagement and Leadership, Disaster Response, Health & Housing, and Affordable Housing. One participant noted, “It was a great opportunity…
Rural Neighborhoods and Pinnacle announce closing on $32.2M in tax credit equity from Bank of America, $9.1M in conventional mortgage debt from Berkadia and Freddie Mac, and a subordinate $6M Miami-Dade Surtax loan to construct Old Cutler Village Phase 2. The five-story building with 120 workforce units located just east of the Ronald Reagan Turnpike…
Using surplus city-owned land, construction of the $42M, 110-unit senior rental community, celebrates its topping off event this week! The 5-story mid-rise closed on December 13th of last year and has risen steadily over its initial six months.
In partnership with Collier County, Rural Neighborhoods rehabbed 29 homes at just under $1M with another 11 homes underway. The County offers the SHIP rehab program to help homeowners with expensive health, safety, or long-term maintenance repairs to preserve and maintain their homes. The majority of applicants are over 65 with fixed incomes. A project…
La Cabana, a 110-unit senior rental community in Miramar, is Rural Neighborhoods’ initial foray into Broward County. The $42M tax credit-financed property marked a major milestone on December 13th as general partner RN and others closed on financing for the project. La Cabana represents a strategic partnership with Pinnacle Housing Group and the City of Miramar…
More than a decade ago Rural Neighborhoods unsuccessfully sought a unique parcel in west Miami-Dade shared at the time with the U.S. Post Office. Now, 15 years later, Rural Neighborhoods has purchased the General Partner interest in the 55-unit senior living community as it continues to serve the neighborhood post-tax credit expiration. La Cabana and…
Rural Neighborhoods’ newest property in Immokalee, Casa Amigos, is rapidly filling. Opened in December 2023, the final tenants will move into their apartments in the 24-unit structure in January. Serving both farmworkers and non-farmworkers, the units feature two bedrooms and two baths. Funding for the units was provided by the Florida Housing Finance Corporation, the…
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