Fifth Third Bank awarded $10,000 to Rural Neighborhoods to aid Hurricane Ian recovery efforts in Collier County. RN currently partners with Collier County to offer Owner-Occupied Rehabilitation to low-income homeowners. The Fifth Third Bank funds will cover ineligible costs under the local government program such as wind mitigation certifications which save homeowners money after installation…
Collier County’s Board of County Commissioners cleared the last hurdle to creating 350 new units of affordable housing in Naples. At its meeting in late April, the BCC approved re-zoning the Golden Gate Golf Course to allow residential development on a portion of the course. Selected by the BCC as the non-profit developer, Rural Neighborhoods…
A lack of community space in western Immokalee prompted Rural Neighborhoods to seek funding for its Esperanza Community Center. Collier County provided $400,000 in CDBG funds toward the $1.2 million project. The new structure, to be located in front of the new Casa Amigos apartments, will provide meeting space, office space for non-profits, and resources…
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…
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