November 1, 2017 West Palm Beach — Palm Beach County Mayor Paulette Burdick, Wells Fargo Regional President David Williams, Florida Community Loan Fund Officer Jim Walker and Neighborhood Renaissance broke ground for the construction of Mango Cove, a 36-unit apartment community at 1561 Florida Mango Road. The $8.2 million development is a public/private partnership between Palm Beach County and Neighborhood Renaissance, Inc., a nonprofit developer that addresses the growing need for affordable homes, which are within the financial reach of low and moderate-income essential workers including teachers, first-responders and health workers.  According to Dr. Ned Murray Associate Director for FIU’s Metropolitan Center, “the county’s $1,900 median gross rent is unaffordable for 80% of renters.”

The new development will transform this difficult to develop 8-acre parcel, which contains a lake and 2-acres of land located in the county’s Urban Redevelopment Area into an attractive residential community central to schools, transportation, employment, shopping, services and recreation facilities.  Since the destruction of 40 apartments by the 2004 – 2005 hurricanes, the site has been an eyesore to the surrounding neighborhoods.  Mango Cove will replace the lost apartments with energy efficient 2 bedroom and 2 bath quality homes with monthly rents no more than $1,244, well below market rate and affordable for families earning less than 120% of the area median income (120% of median annual income for a 2-member household is $69,120).  The homes will remain affordable for future generations through a 30-year deed restriction enforced by Palm Beach County.  Mayor Burdick emphasized the need for “rents that are within the financial reach of working families who struggle to pay for basic necessities such as food, health care and transportation.”

Mango Cove is being financed with equity raised by the sale of 19 single-homes that Neighborhood Renaissance purchased and rehabbed out of foreclosure through the county’s Neighborhood Stabilization Program 2. The homes are being sold to owner occupant buyers earning less than 120% of the area median income and will be deed restricted for 30 years to ensure they remain affordable.  Predevelopment and projects grants were provided by the Wells Fargo Priority Markets Program, TD Charitable Foundation and the Community Foundation for Palm Beach and Martin Counties. The Florida Community Loan Fund is providing construction and permanent 1^st mortgage financing.

Pictured from left to right: NR Board Member Bette Anne Starke, Florida Community Loan Fund Jim Walker, Dan Liftman aide to Congressman Alcee Hastings, Wells Fargo Regional President David Williams, NR Chair Carl A. Flick, Terri Murray, PBC Director Housing & Economic Sustainability Jonathan Brown, PBC Mayor Paulette Burdick, Southeast Architectural Services Larry Kramer, Michael Pecar, NR Board Member Tim Coppage.

Neighborhood Renaissance Receives a $500,000 Project Reinvest Grant for the West Village Art Lofts in Lake Worth

Lake Worth — Neighborhood Renaissance, Inc.  announced at its recent groundbreaking ceremony for the West Village Art Lofts the receipt of a $500,000 grant award from NeighborWorks America through Project Reinvest: Neighborhoods.  The West Village Art Lofts is a mixed-use residential and commercial development that includes 8 three-story live/work artist townhomes and 2,000 sq. ft. of much needed “Class A” commercial space. Designed to attract arts related businesses and amenities, the new commercial building as well as street level artist work space will add to the vibrancy of the West Village commercial area through small business development.

Lake Worth’s Art Lofts of West Village, is the second phase of live-work residences specifically for low and moderate-income working artists and has been made possible by funding from the Lake Worth Community Redevelopment Agency’s Neighborhood Stabilization Program 2 and the donation of distressed land. Project Reinvest grant funds will be used to construct the commercial building.  Neighborhood Renaissance was one of 55 nonprofit organizations across the country to receive this neighborhood stabilization grant award through a highly competitive process.

About Neighborhood Renaissance

Neighborhood Renaissance, a proven nonprofit community based organization for 25 years, is dedicated to building and supporting strong economies and diverse communities in Palm Beach County. We work in partnership with residents, local government, businesses and lending institutions to reclaim troubled properties and improve neighborhoods. Our efforts helped over 135 low and moderate-income families to become first-time homeowners and we built or substantially rehabilitated over 158 affordable homes. In the past 5 years our efforts targeted nearly $24.5 million of reinvestment into low-income communities.

March 3, 2017 West Palm Beach, FL – Neighborhood Renaissance, Inc. closed on the sale of a single-family home located on 38^th St. in Northwood to Leandra Silfa who works as a case manager for Adoptive-A-Family of the Palm Beaches, Inc. In addition to becoming a new home owner, Ms. Silfa and her 10-year old son just welcomed a new baby girl to their family. “I am so happy to have the security of owning my own home where I can raise my family.” The nonprofit development corporation constructed the 4 bedroom and 2.5 bath Florida style bungalow home in 2008 with assistance from the City of West Palm Beach and Palm Beach County’s Dept. of Economic Sustainability.

West Palm Beach, FL – on March 3, 2017 Valley National Bank  presented Neighborhood Renaissance with a $5,000 contribution in support of helping low and moderate-income families to become homeowners.

FOR BID INSTRUCTIONS, CLICK HERE.

https://www.dropbox.com/sh/soalhc8b2dcqrr2/AAAtAdv8TTZeW533NlNDK7lqa?dl=0

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West Palm Beach, FL – on September 6, 2016 Bank United presented Neighborhood Renaissance with a contribution of $8,750 in support of the organization’s efforts to address the needs of low and moderate-income families to obtain quality homes within their financial reach.