CENTRAL REGION
$4 million FCLF financing (2 loans)
Construction to term financing
102 units of affordable rental housing
“Trinity Village will bring essential affordable housing to seniors in Haines City, and we are proud to partner with Trinity Worship Center International Ministries to turn this vision into reality. This wouldn’t be possible without the support of our banks and our long-term partner Florida Community Loan Fund.” – Mitchell Rosenstein, Principal, Green Mills Group
Haines City, located in Central Florida’s Polk County, was founded in 1914. Haines City has a historical and ongoing connection to citrus and farming, as it was a center for early settlers planning citrus groves and continues to be surrounded by agricultural areas. With a population of over 22,000 residents, the city is experiencing residential growth; and with that growth comes an expanding need for affordable rental housing.
With financing from Florida Community Loan Fund, Green Mills Group and Trinity Worship Center International Ministries, Inc. are co-developing Trinity Village Apartments which will provide 102 affordable rental apartments in Haines City to help address the area’s growing need. Through a rent restriction agreement, all units will be available to residents earning between 30% and 80% of the area median income (AMI), with 77 of the units will be further restricted to households earning 60% or less of AMI. There will be a mix of 1- and 2-bedroom units, all with energy-efficient measures included, helping keep costs down for residents. Common amenities include a laundry room, game room/library, fitness center, and pool. On-site management and maintenance offices will provide responsive service to residents at Trinity Village.
Trinity Worship Center entered into a long-term ground lease with Green Mills Group, allowing it to retain ownership of this legacy property while serving as a co-developer of the project. Since 2016, FCLF has provided financing for several other projects developed by Green Mills, forging a long-lasting relationship to provide affordable housing in Florida’s low-income communities.
FCLF received a Capital Magnet Fund (CMF) award from the Community Development Financial Institutions (CDFI) Fund, which allowed FCLF to offer more favorable terms to Trinity Village Apartments and help ensure the project’s success. Additional financing for the project has been provided by other public and private sources.
https://www.greenmillsgroup.com/project/trinity-village/
