Nonprofit Partnership Invests $8 Million in Affordable Housing in Central Florida
Established through a partnership between OFN members Florida Community Loan Fund and New Jersey Community Capital, as well as Central Florida Foundation, the Parramore Asset Stabilization Fund (PASF) aims to purchase, renovate, and preserve 83 scattered-site residential units across 44 different properties in Orlando’s Parramore neighborhood starting this spring.
The $8 million investment will help provide long-term affordable housing rental units for underserved Orlando families, a city where 76 percent of low-income households spend over 40 percent of their income on rent and utilities – well above the 30 percent standard measure of housing affordability.
Learn more here.