“Taking blight properties from abandonment to life, is not as easy as it looks. A lot of communication, coordination and effort occur to make the “American Dream” of homeownership come true. Our partnership with the Florida Community Loan Fund makes the overall process simpler, alleviating us of the financial stress and capital needed to rehabilitate these blight properties.” – Michael Roberts, Executive Director, R.E.A.C.H.
R.E.A.C.H. – or Real Estate Education and Community Housing – was founded in 2006 with a mission to inspire and motivate low to moderate income members of the community to reach for, and take, the necessary steps to achieve and sustain home ownership. The organization acquires foreclosed or donated properties, and renovates them to offer for sale to low-income families. At the same time, REACH works with area families to offer education needed for home ownership – such as budget counseling and preventing foreclosure. When renovation is completed on a home, chances are good that REACH will have worked with a family who is ready to purchase that home. As a HUD approved counseling agency, REACH has assisted 300 families over the last 4 years with homebuyer education and foreclosure prevention counseling.
With financing from Florida Community Loan Fund, REACH will continue to acquire homes, renovate them, and sell them to qualified families. With a $250,000 FCLF line of credit, REACH anticipates it will rehab 12 to 20 homes per year; helping reduce the inventory of blighted and abandoned properties. These homes will be primarily in Palm Beach, Broward, and Miami-Dade Counties.
“The impact of our partnership with R.E.A.C.H. is important, providing affordable housing and financial counseling for area families, and reducing the inventory of foreclosed and abandoned homes in Florida.” – Nelson Black, Chief Lending Officer, Florida Community Loan Fund.
Pictured below left, a home that will be renovated by REACH. Right, a recently renovated interior.