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Steven Kirk Appointed to Collier County Housing Committee
Collier County Commission Chairwoman Donna Fiala recently appointed Rural Neighborhoods President, Steven Kirk, to a newly-formed Housing Stakeholder Committee. The group is to provide oversight to local government as it constructs a Community Housing Plan to address the housing needs of local residents. The planning process will begin in the Fall 2016. The Board of…
Resident Leadership Academy Graduates
Ten participants recently completed Rural Neighborhoods’ first Resident Leadership Academy in Immokalee. The Leadership Academy was designed to help residents expand their skills in areas like communication, resolving conflicts, and working in teams. The group also learned about ways to get involved to improve the community. The three-day class ended with participants breaking into groups…
Cannery Row Wins $3.5M Recommendation
Cannery Row at Redland Crossing, our planned 112-unit senior housing rental community in the Naranja neighborhood north of Homestead, received $3.5M Miami-Dade Documentary Stamp Surtax Program funding in November. This financing — derived from an additional levy on documents that transfer interests in Florida real property — closes the remaining gap in Rural Neighborhood’s $33M,…
Old Cutler Village Phase 2 closes $50M Financing
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…
Generous Donations Aid Hurricane Irma Victims
Natural disasters bring out the best in our communities. Bank partners boosted relief efforts with timely goods and capital after Hurricane Irma. CenterState Bank provided 8,000 bags of ice to residents in Eden Park-Esperanza Place in Immokalee and Everglades Village in Florida City as low-income residents awaited power restoration. Fifth Third, Bank United and TIAA/Everbank…
Tradewinds Hammocks: 1791 and Counting
Rural Neighborhoods closed on its acquisition of Tradewinds Hammocks in the Florida Keys on May 30th. The 66-unit expired Tax Credit project brings RN’s portfolio to 1,791 units in 8 communities throughout Central and South Florida. LISC provided a $3.8M first mortgage with secondary financing provided by Florida Housing Finance Corporation and the Monroe County…