FORT MYERS, Florida – In partnership with the Fort Myers Community Redevelopment Agency, Catalyst Community Capital closed a loan with Affordable Holdings, LLC for the acquisition and renovation of a five-unity property in the Cleveland 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.
“We are so happy to be able to partner with such an innovative and forward-thinking CRA. Michele Hylton-Terry and her group have the right mindset on how to adapt to the changing real estate market and deliver results for their community. In addition, Affordable Holdings, with its local knowledge and desire to create positive change in its community, is the perfect group to embark on this project. We look forward to working with them on their next successful projects.” 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.
June 8, 2022
For Immediate Release