CORAL GABLES, Fla.--(BUSINESS WIRE)--The Housing League, Inc., a not-for-profit 501c3 affordable housing developer based in Coral Gables, has opened branch offices in Naples and Vero Beach to meet the burgeoning statewide demand for high-quality homes for low- to moderate-income families.
“With home prices rising sharply in many parts of the state, affordable housing is as urgent a need as ever,” says Jerry Flick, president and founder of the 15-year-old organization. “We are buying vacant lots to build, and acquiring foreclosed homes for rehabilitation and resale at affordable prices.”
The Housing League’s primary market is families making up to but not exceeding 120 percent of median household income, and as much as 140 percent in Miami-Dade through its countywide program. While that income limit comes to roughly $60,000 statewide, it can be considerably more in some counties, with an upper limit of as much as $93,000 in Miami-Dade.
“There are more resources out there for prospective homebuyers than many families or even governments realize,” Flick said. “Money from locally-administered programs to help homebuyers often goes unused and returned to the state and federal governments.
”We are also looking at a new initiative to build energy-efficient, attractive, affordable homes resistant to 200 mph winds in Category 5 hurricanes, tornado resistant with an FS4 rating, and mold- and termite-proof,” Flick said.
The Vero Beach office will handle the League’s properties along the Treasure Coast, as well as in Jacksonville, Orlando, Pensacola, Tampa, and St. Petersburg.
The Naples office serves Southwest Florida, including Everglades City, Immokalee and Lee County.
The Housing League acquires foreclosed homes or builds properties in partnership with benefactors in Florida, Alabama, Georgia, North Carolina, South Carolina and Tennessee. The benefactors typically lend the money to the Housing League for three to five years.
The Housing League builds or renovates properties for sale under affordable programs. The League also offers a program to rent vacated homes to households until they reestablish credit to qualify for a mortgage.
As a tax-exempt organization, the League retains and re-invests all its earnings in new acquisitions or the rehabilitation of distressed properties suitable for long-term leases.
Learn more at www.thehousingleague.org.