Lincoln Avenue Capital Earns Spot on Prestigious Affordable Housing Finance Lists for Second Year
THE ANGEL, July 21, 2021 / PRNewswire / – Lincoln Avenue Capital (LAC) – a developer, investor and operator of inexpensive housing – was acknowledged in two classes on Inexpensive Housing Finance’s 2020 lists, which spotlight the main inexpensive housing firms within the trade. LAC ranked fifth on the record of High 10 Firms to Full Acquisitions in 2020 and was positioned on the record of High 50 Inexpensive Housing House owners of 2020. Inexpensive Housing Finance is a outstanding publication that brings information and Masking inexpensive housing traits and performing a selective course of on their annual lists.
This recognition comes at a time when Lincoln Avenue Capital is ramping up property redevelopment tasks throughout the nation to make sure current inexpensive models do not transfer to market, and is investing in unit renovations for low-income folks.
Refurbished properties embrace: Fort Vancouver Terrace in Vancouver, WA; Prospect Park Flats in Fort Lauderdale, Florida; Riverwalk II Flats in Homestead, FL; Cabana Membership Flats in Miami, Florida; Malibu Bay Flats in West Palm Seashore, Florida; and Park Metropolis Flats in Miami, Florida. As a part of Lincoln Avenue Capital’s dedication to prioritizing sustainable constructing practices, the renovations will embrace sustainable options together with vitality environment friendly LED lights, vitality environment friendly home equipment, water saving lights and photo voltaic panel programs. The lodging additionally include a wide range of facilities.
“Lincoln Avenue Capital is honored to be acknowledged by Inexpensive Housing Finance for the second consecutive 12 months,” stated LAC CEO Jeremy Bronfman. “We’re dedicated to elevating the requirements of funding, possession and improvement in inexpensive housing, and this recognition encourages us as we advance a wide range of renovations.”
Lincoln Avenue Capital develops prime quality, inexpensive houses utilizing a variety of progressive options to assist residents and communities. Cabana Membership is one in every of a number of properties Lincoln Avenue Capital has acquired in Miami prior to now few years. Lincoln Avenue Capital focuses on making its influence inside the Miami inexpensive housing trade, which for a lot of faces the problem of a giant affordability hole. After its completion, the Cabana Membership can be outfitted with a newly constructed clubhouse and a renovated health middle, a canine park, picnic benches, shuffleboard, bocce court docket and a pavilion with barbecue grills. Resident packages embrace a lending library, diet and different academic programs, in addition to transportation.
The corporate’s third acquisition within the space, Fort Vancouver Terrace, is a unbroken funding in Washington for Lincoln Avenue Capital. As a part of this renovation, Fort Vancouver’s Affordability Contract was prolonged for greater than 50 years to make sure inexpensive housing in the neighborhood is maintained and upgraded. The variety of housing models for residents with very low incomes (50% of the median earnings within the area) has additionally elevated. The property has a bicycle cellar, charging stations for electrical automobiles, a newly created playground, a group backyard and a brand new enterprise and studying middle with laptop terminals.
By doing West Palm Seashore Space the place Malibu Bay is situated, there’s a sturdy want for inexpensive housing as a result of inflow of recent tenants from high-income areas. The area is experiencing a rising hole between housing consistent with the market and inexpensive housing. Malibu Bay is a newly designed property with the West Palm Seashore the group’s want for inexpensive housing at a look. The property additionally has a clubhouse, health middle, playground, and pool.
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SOURCE Lincoln Avenue Capital
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