News
Neighborhood Renaissance Completes Construction of Thirteen New Florida Green Building Coalition- Certified Energy-Efficient Homes in Westgate
Contact Terri Murray For Immediate Release
(561) 832-6776 ext. 102 or tmurray@neighborhoodrenaissance.org
510-24th Street, West Palm Beach, FL 33407
Neighborhood Renaissance Completes Construction of Thirteen New Florida Green Building Coalition- Certified Energy-Efficient Homes in Westgate
West Palm Beach – October 11, 2012. Neighborhood Renaissance held a ribbon cutting at 2495 Hiawatha Ave. to celebrate the completion of thirteen energy-efficient homes that meet the standards of the Florida Green Building Coalition on what were five blighted vacant lots where decaying houses once stood. In addition to age and neglect, many Westgate homes were lost during the 2004-2005 hurricanes. This development is part of the long-term strategy to revitalize the Westgate community through the addition of new homeowners and the resurgence of the neighborhood’s housing market.
To bring the home prices within the financial reach of low and moderate-income buyers, Palm Beach County‘s Department of Economic Sustainability (DES) provided a $2,058,461 construction grant. These dollars were part of the County’s 2005 Disaster Recovery Initiative funds for Hurricane Wilma from the Florida Department of Economic Opportunity. According to Edward Lowery, Director of the Department of Economic Sustainability, “The state not only provided the financial resources but also the program guidance required to ensure that this funding was maximized to the greatest extent possible in addressing hurricane recovery and the preservation of affordable housing. Also our Board of County Commissioners has remained focused on addressing the housing and development needs of communities across Palm Beach County.”
The Florida Community Loan Fund, a statewide source of flexible financing to support community development projects by non-profit organizations throughout the state, made an $850,000 revolving loan to the project as well. James Walker, South Florida Community Loan Fund Loan Officer, acknowledged, “The last few years have proven the critical importance of the non-profit industry in addressing urgent needs in our communities. I cannot think of any other way these homes would have been built.”
Seven of the homes are already sold to first-time homeowners. One of the new homeowners, Liz Santiago, a single mother who works two jobs, commented on her new four bedroom home, “I have been searching for a place that was large enough for my family but could not find anything that I could afford. I doubted that I would ever own a home. Neighborhood Renaissance gave me the opportunity to finally purchase a quality home that I am proud of.”
Neighborhood Renaissance is a community based organization that builds and supports strong economies and diverse communities in Palm Beach County. We are currently renovating 70 foreclosed homes for sale and/or lease to working families. This housing initiative is funded through a partnership with Palm Beach County’s Department of Economic Sustainability. DES provided nearly $12,000,000 in federal Neighborhood Stabilization Program funding to Neighborhood Renaissance to help combat the negative impacts that foreclosed residential properties have on neighborhoods. During its recent history, the organization has helped over 65 families to purchase their first home and constructed 33 single-family homes in Northwood.
Currently, there are six homes still available. The sales prices range from $85,000 to $100,000; all models have three bedrooms. Interested first-time homebuyers may contact either Lashea Brooks or Christina Hewitt at (561) 832-6776 to learn more.
Neighborhood Renaissance Community Land Trust Closes First Lease-Purchase Program Home Sale
West Palm Beach, FL – Neighborhood Renaissance closed on the sale of its first Lease-Purchase home through its Community Land Trust (CLT) toJanita Finleyon April 3, 2012. The program allowed Ms. Finley to rent her three bedroom single-family home for the past three years while she saved funds for a down payment. PNC Bank made the construction loan to build the house located in the Northwood Neighborhood of West Palm Beach at a time when property values were higher. Because of their commitment to preserving neighborhoods and helping first-time homebuyers they allowed Neighborhood Renaissance to sell the home to Ms. Finley for less than their loan amount. United Way also matched each dollar saved by Ms. Finley with two dollars through their Individual Development Account Program that helps first-time homebuyers like Janita to accumulate savings.
During Janita’s house hunt it became apparent to her that she needed to save more money before she could purchase a quality home for herself and her daughter that did not need costly repairs; however, with earnings as a radiology file clerk, Ms. Finley found it impossible to save for a down payment while paying the high cost of rent. Neighborhood Renaissance developed a Lease-Purchase program for potential homeowners like Janita, who need additional time to accumulate savings and/or address minor credit issues, and who need a reasonably priced rental home that they can ultimately purchase. As a participant in the Lease – Purchase program, Janita received help with budgeting and developed a savings plan, plus she became accustomed to the responsibilities of homeownership like maintaining her yard, which she continues to be very proud of. In the words of Janita, “I am so happy this day finally came and it was worth the wait.”
Neighborhood Renaissance’s C LT provides an alternative to renting and places homeownership within the financial reach of more working people. This is accomplished by removing the cost of land from the purchase price, therefore only selling the house to the buyer. This program benefits the community as well because it preserves quality homes and the public investments used to create them for future generations of first-time homebuyers.
Two CLT single-family homes located in Northwood are available now for Lease-Purchase and an additional 11 three and four bedroom homes will be available in the next three months for future homeowners like Janita. Neighborhood Renaissance is now taking applications. To apply, please contact Lashea Brooks or Christina Hewitt at (561) 832-6776.
Impact 5 TV Segment About Neighborhood Renaissance
Impact 5: PALM BEACH COUNTY, Fla. – Neighbors in Palm Beach County are that happy Neighborhood Renaissance, a non-profit organization, is turning vacant homes into livable homes for families.
Last year the organization was given $11 million dollars by the federal government to renovate foreclosed properties.
Watch the Impact 5 TV segment about Neighborhood Renaissance:
Channel 5 Features Neighborhood Renaissance
New Channel 5: “It’s an effective way to deal with the impact of foreclosures,” says Neighborhood Renaissance Director Terri Murray.
Murray says they applied for a federal grant through the county to fund the neighborhood stabilization program which purchases foreclosed properties and turns them into livable homes.
They were awarded $11.5 million and have purchased 74 homes so far. “It’s an incredible amount of work to operate the program.”
Watch the Channel 5 TV segment featuring Neighborhood Renaissance:
Ribbon Cutting Recognizes Wells Fargo Grant on Wednesday, April 11, 2012 Neighborhood Renaissance Event Celebrates National Community Development Week (April 8-14) and the Completion of the First of 74 Foreclosed Properties Reclaimed by “Leading the Way Home Initiative”
West Palm Beach– April 11, 2012. Neighborhood Renaissance celebrated the transformation of the first of 74 reclaimed foreclosed properties into homes that will be within the financial reach of low and moderate-income persons with a Ribbon Cutting. Neighborhood Renaissance was also presented with a $100,000 grant from the Wells Fargo Foundation’s “Leading the Way Home Priority Markets Initiative,” a nationwide effort to rebuild neighborhoods impacted by foreclosures. The organization was invited by local Wells Fargo teams to compete among applicants nationally. This donation is leveraged with an $11.5 million grant fromPalm BeachCounty’s Neighborhood Stabilization Program 2. Upon renovation, the houses will be leased or purchased by low and moderate-income residents ofPalm BeachCounty. Community Development week showcases similar initiatives accomplished by nonprofit agencies and their partners nationally. As a result of Neighborhood Renaissance’s local efforts, the Mathis family will move into their home later this month.
The participants in the Ribbon Cutting included:
Oliver Ariztoy, Wells Fargo Community Bank President for GreaterPalm Beach
Leslie Lily, President and CEO of the Community Foundation forPalm BeachandMartinCounties
Armando Fana, Director of HUD’s Miami Field Office
Edward Lowery, Director of Palm Beach County Department of Economic Sustainability
James Walker, Loan Officer for SouthFlorida,FloridaCommunity Loan Fund
The Mathis family, future residents of the home, represented by Natashia Mathis
The Mathises, long-termPalm BeachCountyresidents, currently reside in a 2 bedroom apartment complex that they have outgrown. With a one year old son and energetic young daughter the family needed a 3 bedroom home with a safe yard for their children to play. They found Neighborhood Renaissance’s program during their search for a larger house nearer their employment. Now that they have found a home that meets their needs, the family will work toward their goal of purchasing their home with the help of Neighborhood Renaissance.
Neighborhood Renaissance is a nonprofit organization dedicated to breathing new life intoPalm BeachCountyneighborhoods by reclaiming distressed properties and making homes that are within the financial reach of low and moderate-income families. The agency recently built 13 energy-efficient single-family homes in the Westgate neighborhood for first-time homebuyers, acquired and renovated 3 foreclosed properties that are being leased by working families, helped over 65 families to purchase their first home, and constructed 33 single-family homes in Northwood.
All 74 homes acquired through this initiative will be renovated by December of this year and are available for lease or purchase. The next 12 houses will be completed in 3 months and Neighborhood Renaissance is currently taking applications for future residents. To apply for one of these homes, please contactLasheaBrooksor Christina Hewitt at (561) 832-6776.
Contact: Terri Murray, Executive Director
(561) 832-6776, extension 102 tmurray@neighborhoodrenaissance.org
510-24th Street, WestPalm Beach,FL33407
Neighborhood Renaissance’s 2011 Annual Report
To view our 2011 Annual Report and learn about our accomplishments from the last year, click the following link:
2010 Annual Report
Please take a moment to lean more about Neighborhood Renaissance by reviewing our Annual Report for 2010 by clicking the link below.
Annual Report From Neighborhood Renaissance
Please view Neighborhood Renaissance’s 2009 Annual Report and learn about what we have accomplished in the past year by clicking the link below.
Neighborhood Renaissance Receives Support for Affordable Rental Housing Initiatives
West Palm Beach, Florida – January 4, 2010. Neighborhood Renaissance, Inc. was the proud recipient of $50,000 from the Community Foundation for Palm Beach and Martin Counties, which was awarded to stem the tide of low-income tenant displacement and to help prevent homelessness. The grant was made possible through an endowment by the John S. and James L. Knight Foundation. We were one of eight nonprofit organizations to receive funds in this highly competitive funding round. All the programs funded are working to increase access to food assistance or to provide immediate shelter for either the homeless or those who could potentially become homeless.
The grant will be leveraged with additional capital funding from Palm Beach County’s Neighborhood Stabilization Program for multiple efforts we are undertaking to reclaim foreclosed properties as affordable rental and lease-to-purchase homes. Our first initiative is to acquire and renovate bank-owned properties located in unincorporated West Palm Beach. We are also assisting the Village of Wellington to purchase and rehab bank-owned properties in Wellington’s transitional neighborhoods for lease-to-purchase by low-income families. Secondly, efforts are underway to increase our capacity to preserve existing rental housing that is at risk of being lost due to disinvestment, market pressure, or expiring affordable housing restrictions. Many of these homes were originally built with public funding. It is our intention to acquire and upgrade these homes and maintain their affordability for future generations.
Founded in 1992, Neighborhood Renaissance is a comprehensive nonprofit community development corporation dedicated to creating and preserving strong neighborhoods and homes within the financial reach of low -and moderate-income working families. Originally based in West Palm Beach’s North End, the organization expanded its geographic service area county-wide. We have helped over 65 low-income households to become homeowners, provided housing counseling assistance to over 1,000 individuals and have built 33 affordable homes resulting in an $8 million investment in Northwood’s poorest neighborhoods. We have also provided small business assistance to over 150 low and moderate income entrepreneurs in the Northwood Village resulting in over 115 jobs. In addition, in partnership with the Westgate-Belvedere Community Redevelopment Agency we are in the process of developing 13 new affordable homes in the Westgate neighborhood. For more information about Neighborhood Renaissance’s affordable housing opportunities please call (561) 832-6776
