CENTRAL REGION
$1 million FCLF financing
Construction to term financing
80 units of affordable apartments for seniors
“Florida Community Loan Fund has been a trusted partner of Wendover Housing Partners for many years. Their creative and collaborative approach to solving any challenge that arises with regard to capital magnet funding and the development of affordable housing has been invaluable to us. We are grateful for FCLF’s commitment to assisting us in creating high-quality and sustainable housing for all.” – Kevin M. Kroll, Vice President of Institutional Funding, Wendover Housing Partners
As of 2026, over 4.2 million people aged 65 and older live in Florida, representing approximately 21.75% of the state’s total population, making it one of the oldest populations in the U.S. Roughly 12% of Florida’s seniors are low income. As Florida’s aging population continues to grow and living expenses increase, the need for affordable rental homes for seniors is high.
With construction-to-term financing from Florida Community Loan Fund, Wendover Housing Partners, LLC, will construct Bristol Manor, an 80-unit, age-restricted (55+) senior affordable housing development totaling 81,840 square feet on 6.4 acres in Orange City, Florida. Orange City is in Volusia County, which is part of the Deltona-Daytona Beach-Ormond Beach metropolitan area and is roughly the halfway point between Orlando and Daytona Beach, just west of Interstate 4. Bristol Manor will be comprised of 40 1-bedroom/1-bathroom units and 40 2-bedroom/2-bathroom units, with an average unit size of 930 square feet. All 80 units will be designated at 80% or lower AMI, with 52 of the 80 units serving 60% AMI and lower.
FCLF received a Capital Magnet Fund (CMF) award from the Community Development Financial Institutions (CDFI) Fund, which allowed FCLF to offer more favorable terms to ensure Bristol Manor’s success. Wells Fargo was the main financer with additional financing provided by other public and private sources.
Wendover Housing Partners was established in 1995 to provide safe, clean and welcoming affordable housing with a focus on high quality and innovative approaches. Over its history, the organization has developed over 8,000 units of housing across 55 properties.
FCLF and Wendover Housing Partners have previously partnered on:
