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ORLANDO, Fla., June 14, 2019 (GLOBE NEWSWIRE) -- Wendover Housing Partners, a privately held real estate development, investment and management company, today announces it has closed on the property where it will build Central Florida’s first permanent supportive housing community.
The community, called Warley Park, will be an 81-unit multifamily affordable housing community for homeless families and individuals. The community will put a priority on the chronically homeless.
Wendover acquired the 4.5-acre property in Sanford, Fla. for $1.3 million. Financing includes $1.51 million worth of 9% Low Income Housing Tax Credits (LIHTCs), a $2.825 million SAIL loan and a $1.307 million National Housing Trust Fund grant. The land had been deemed a nuisance by the City of Sanford.
A groundbreaking was held on June 13 to kickoff construction, which is expected to take 10 months, with the first residents moving in February 2020.
The community will have two apartment buildings and a clubhouse that can be used for multiple purposes, including meals, fitness classes and meetings, as well as a classroom for educational programs. Warley Park will feature one, two and three-bedroom apartments that include full-size washer/dryers, ceiling fans, walk-in and linen closets, window blinds and kitchen islands.
Wendover has partnered with Step Up on Second to manage the community’s tenancy, permanent supportive housing needs and on-site programs. The nonprofit group is the nationwide leader in permanent supportive housing, with a track record of more than 10 years of success.
“We believe that permanent supportive housing is the key to breaking the cycle of homelessness,” said Jonathan L. Wolf, President and Founder of Wendover Housing Partners. “We want to get individuals and families off the streets and out of sub-standard housing and provide them with a place to call home, then provide them access to the programs and services they need to enact real change in their lives.”
A coordinated entry system will be used to approve Warley Park residents; the process will ensure that people are ready for permanent housing. Residents will utilize rental vouchers as payment, just as they would at other rental properties or motels. Warley Park will offer 12-month leases, so residents can live in their homes as long as they wish, as long as they meet the obligations of tenancy.
On-site services will include health care, vocational training, GED classes and life-skills classes.
The idea for Warley Park was born from a 2011 60 Minutes story on Seminole County, Florida’s growing issue with homelessness. Since then, Wendover has partnered with several groups and government agencies to make Warley Park a reality.
For additional information about Wendover Housing Partners, visit www.wendovergroup.com.
About Wendover Housing Partners
Headquartered in Altamonte Springs, Wendover Housing Partners, LLC is a privately held real estate development, investment and management company founded in 1995. As one of the Southeast’s premier housing companies, Wendover specializes in the development of multifamily communities, senior communities, student housing and transit-oriented development. Wendover’s expansive portfolio of affordable and mixed-income developments demonstrates the company’s success in creating housing opportunities in a variety of economically and socially diverse neighborhoods.
Uproar PR for Wendover Housing Partners
321.236.0102 ext. 237