Rural Neighborhoods and Pinnacle announce closing on $32.2M in tax credit equity from Bank of America, $9.1M in conventional mortgage debt from Berkadia and Freddie Mac, and a subordinate $6M Miami-Dade Surtax loan to construct Old Cutler Village Phase 2. The five-story building with 120 workforce units located just east of the Ronald Reagan Turnpike…
Using surplus city-owned land, construction of the $42M, 110-unit senior rental community, celebrates its topping off event this week! The 5-story mid-rise closed on December 13th of last year and has risen steadily over its initial six months.
In partnership with Collier County, Rural Neighborhoods rehabbed 29 homes at just under $1M with another 11 homes underway. The County offers the SHIP rehab program to help homeowners with expensive health, safety, or long-term maintenance repairs to preserve and maintain their homes. The majority of applicants are over 65 with fixed incomes. A project…
La Cabana, a 110-unit senior rental community in Miramar, is Rural Neighborhoods’ initial foray into Broward County. The $42M tax credit-financed property marked a major milestone on December 13th as general partner RN and others closed on financing for the project. La Cabana represents a strategic partnership with Pinnacle Housing Group and the City of Miramar…
More than a decade ago Rural Neighborhoods unsuccessfully sought a unique parcel in west Miami-Dade shared at the time with the U.S. Post Office. Now, 15 years later, Rural Neighborhoods has purchased the General Partner interest in the 55-unit senior living community as it continues to serve the neighborhood post-tax credit expiration. La Cabana and…
Rural Neighborhoods’ newest property in Immokalee, Casa Amigos, is rapidly filling. Opened in December 2023, the final tenants will move into their apartments in the 24-unit structure in January. Serving both farmworkers and non-farmworkers, the units feature two bedrooms and two baths. Funding for the units was provided by the Florida Housing Finance Corporation, the…
Seahorse Cottages and The Avenues on Big Pine Key expect initial certificates of occupancy in September for 31 new single-family rental units serving households earning less than 80% AMI. The CDBG-Disaster Relief funded rental community is financed by Florida Housing Finance Corporation and Community Housing Capital. Rural Neighborhoods will move south from Mile Marker 35…
Rural Neighborhoods’ Deer Creek Senior Housing (DCSH) is a proud recipient of the 2023 City of Gainesville’s Beautification Award for Multi-Family Developments. The City honored architects Ted Hoffman and Michael Facundo‘s multi-colored quilt exterior, angular interior hallways and solar paneled rooftop at its September 13th Gala. DCSH is a 62-unit joint venture between RN and Neighborhood…
Everglades Village’s 120 acre residential campus in south Miami-Dade was blessed with a $100,000 recreational gift from the U.S. Soccer Foundation. The new Mini-Pitch Soccer Field, manufactured by MUSCO lighting, offers small soccer squards to play futbal in a unique hard court environment. Children and adolescnets have swamped the new innovative playfield since its opening!
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