Bonita Springs Area Housing Development Corporation
Loan Amount: $1,595,840
Bonita Springs Area Housing Development Corporation (BSAHDC) was established in 1991 to serve the housing needs of low-income families of Bonita Springs in Lee County. BSAHDC has a track record stretching over several years now – it has developed over 100 homes.
In mid-2001, with the help of the Florida Housing Coalition and the Loan Fund, BSAHDC began development of a 26-unit subdivision known as Silverado East. This has proven to be a successful step-up in production for the organization. BSHDC used a $425,000 construction loan from the Loan Fund to develop the subdivision from infrastructure needs to the construction of the homes.
In June 2003, the Loan Fund provided site acquisition funding to BSAHDC for the purchase of 1.6 acres of vacant property from Bonita Springs Utilities for 6 units of affordable single-family home ownership for low- and very-low income families. In August 2005, FCLF provided a $250,000 construction LOC to assist this project.
In December 2003, the Loan Fund closed on a new $450,000 line of credit to BSAHDC for construction of 20 new affordable homes in Sun Village.
In September 2004, the Loan Fund and Enterprise Housing Financial Services provided $427,500 in funding to assist BSAHDC in acquiring vacant land. In 2007 these partners joined again to fund the Renaissance at Rosemary Park subdivision, 39 affordable single-family homes built to Green standards.
NOTE: CLICK ON PHOTOS AT RIGHT TO ENLARGE.
PHOTOS: (1)Completed Silverado East homes (2) Renaissance at Rosemary Park homes (3) Sun Village home site.
Click HERE to see more photos of Bonita Springs Area Housing Development Corp.
Click HERE for a news article on BSAHDC in the Bonita Daily News.
Click HERE for news article on BSAHDC in the News-Press.
It is really working. The Loan Fund is really touching low-income people
Loan Fund Founder Mary Heyser, RSHM, June 2003
, Florida Catholic.
