Rural Neighborhood’s latest shared housing development, Casa Juarez, will open shortly, providing 32 new units. The apartment complex was constructed using $7 million in Florida Housing Finance Corporation SAIL funds and $500,000 from the Federal Home Loan Bank. Casa Juarez is located at Rural’s headquarters in Homestead and is the second shared housing complex at…
Florida Housing Finance Corporation announced funding to two new construction projects sponsored by Rural Neighborhoods. Everglades Village Phase 5.6, a 20-unit farmworker-targeted addition to our Florida City 511-unit campus received $4.3M in a recent invitation to credit underwriting. In Labelle and Hendry County, Rural will broaden its current senior and farmworker assets through Pollywog Creek…
Community Housing Capital, a Decatur, GA Community Development Financial Institution, and Florida Housing Finance Corporation closed $14.7 million in capital to the Rural Neighborhoods – Florida Keys Community Land Trust’s Seahorse Cottages and The Avenues rental communities in March. The planned 31 units will commence construction in April 2022 and serve Keys residents earning 80%…
Northern Trust Corporation, a leading practitioner of corporate social responsibility and leader in wealth management and banking, recently invested $2M in Rural Neighborhoods’ affordable and workforce housing strategies. This capital is the lead community development investment in Rural’s social investment fund targeted toward innovative housing products and gap financing. “Northern Trust is remarkable in their…
Cannery Row at Redland Crossing, our newest 112-unit senior rental community in Miami-Dade’s Naranja neighborhood, achieved 100% occupancy in less than 60 days as the final resident moved family pictures and furniture into their rental apartment in mid-March. Citibank and Miami-Dade County Surtax funded the mid-rise LIHTC rental community and marks Rural Neighborhoods’ first transportation-oriented…
In late May, BankUnited and Florida Housing Finance Corporation closed loans to Rural Neighborhoods for its newest rental community in Immokalee, FL. Nearly $6M was raised to build 96 SRO beds targeting low-income, H-2a visa worker and agricultural labor housing. Rural continues to serve as a national leader in housing models serving farmworkers and Casa…
Rural Neighborhoods’ President, Steven Kirk, testified before Congress in March 2021 before the House of Representatives’ Subcommittee of Transportation, Housing and Urban Development Appropriations at its Creating Equitable Communities through Transportation and Housing hearing. In answering the question as to how communities best apply a racial equity lens toward equitable development, he answered “no one…
Rural Neighborhoods’ new 62-unit Deer Creek senior housing complex in Gainesville broke ground in the 1st Quarter! In partnership with local nonprofit Neighborhood Housing and Development Corporation, Rural is building the $16 million rental community using 9% LIHTC from Alliant Capital and JP Morgan Chase together with debt from CDFI Community Housing Capital as sources…
Residents at Rural Neighborhoods’ Everglades Village in Homestead and Miami-Dade Police Department officers were busy dressing up the entrance to the 511-unit rental community with new plants and signage recently. Director of Property Management, Michael Botelho, remarked “by the end of the day all agreed we planted as much trust in each other as the…
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