Update on our housing project
Our primary focus this year has been on sponsoring our housing project: After a successful Request for Qualification (RFQ) process and personal interviews with four of the leading South Florida affordable housing developers, Casa Familia selected Atlantic Pacific Companies, who shares our passion to serve adults with IDD. A/P is a fourth-generation company headquartered in Miami with over $2B in owned and operated real estate. Over the course of decades in the real estate business, they have become well-known for their development capabilities and exemplary property leasing and management expertise. Managing over 37,300 multifamily units and 1,100+ full-time employees, their team of seasoned, multidisciplinary professionals has residential and commercial real estate experience including legal, financial, accounting, and managerial. As previously communicated, CF received a low interest loan of $750,000 from the Florida Housing Finance Corporation. Additionally, Casa Familia was awarded a $250,000 grant appropriation from the Florida State Legislature. In our first attempt to receive funding for construction of our housing community, Casa Familia, along with our developer A/P, prepared an application for funding from Florida Housing Finance Corp for RFA-2018-108, “Financing For The Development Of Housing For Persons With Disabling Conditions Or Developmental Disabilities,” to build a community for adults with IDD. For this application, we obtained site control of a prime piece of property in the Allapattah area. We were not successful in this round. This is not unusual, as several other IDD communities in Florida were not funded on their first application. As a silver lining, we had been promised surplus land from the county, but were unable to close before the application deadline for the last round of funding. This turn of events will afford us the time we need to obtain site control in time for the next funding cycle. Moving forward, we will be working with our Developer and Florida Housing Finance Corporation to strengthen our application. To this end, we will continue to build supportive relationships with our partners to ensure our success. Stay tuned for some exciting announcements in the coming months!