FORT MYERS, Florida – In partnership with the Fort Myers Community Redevelopment Agency, Catalyst Community Capital closed a loan with Barnes Realty Group for the construction of a single-family home in the MLK Area redevelopment district.
The transaction is part of an effort by the Fort Myers CRA to create and preserve much-needed affordable housing in the area. As part of the loan requirements, the property will restrict rent limits for the next ten years to assist in meeting the growing demand for affordable housing in Fort Myers.
“Tiffany Barnes is a highly-successful entrepreneur that has expanded her success into real estate development. With an already-impressive portfolio of projects, we are so pleased that she has chosen to reinvest in her community. Her success in Fort Myers will attract more, much-needed investment in these communities, which allows us to further our goal of creating and preserving affordable housing while fostering the growth of mission-aligned developers.” Michael Maguire, COO of Catalyst remarked.
Catalyst Community Capital, Inc. is a 501 (c)(3) with a mission to create jobs and improve the lives of those living in low- and moderate-income communities and under-served populations. Catalyst supports economic growth and revitalizes low-income communities by increasing the flow of capital to small businesses and mission-driven developers and organizations. The Catalyst team brings together a deep understanding of finance, business acumen, and a host of other resources to address economic and social issues.
For further information or inquiries, please visit www.catalytsimpact.org or call 813-313-3931.
Catalyst Community Capital
June 8, 2022
For Immediate Release