Update From Our CEO
Safe neighborhoods, affordable homes, and child well-being are intricately connected and CPSFL’s 40+ programs (yes, you read that correctly, 40+) allow for a unique approach to neighborhood revitalization. Nationwide research tells us that home ownership leads to higher graduation rates, increased child cognition, and a reduction in behavior problems so supporting children and families goes hand in hand with making neighborhoods safe and affordable. CPSFL’s professional staff and dedicated volunteers are making real impact that can be seen and felt by residents throughout South Florida. From housing to mental health - we’re connecting neighbors to the resources they need to meet their goals and thrive.
A home is more than just the concrete, stucco, and tile that go into it. A home is a place to raise a family, be part of a community, and to build wealth. Across Florida there is a shortage of affordable inventory - a housing crisis to say the least. Last December, Noel Martinez, CEO of the Palm Beach North Chamber of Commerce invited me to speak on a panel about workforce housing in PBC and I welcomed the chance to discuss this urgent issue.
According to a recent Washington Post analysis of Zillow data, over the past six months, Florida’s home prices have risen faster than those of any other state. This is straining both home buyers and renters —taking a toll on low to middle income residents and our essential workforce - teachers, local police, and health care workers especially. At the Chamber Breakfast, each panelist shared their own vision for solving the housing crisis but a common theme emerged during the conversation — the need for creativity and collaboration across not-for-profit, private, and government entities. Partnerships are the key that will literally unlock doors of opportunity for children and families in Palm Beach County.
We are doing everything we can to increase the local housing inventory for middle income residents who desire homeownership. Our neighborhood revitalization strategy uses collaboration across sectors to acquire land to build new single family homes and rehabilitate distressed properties in historically disinvested neighborhoods. In order to move quickly when opportunities present, we have secured a relationship with a private investor to create a low interest loan fund to be used for acquisition of properties in our targeted neighborhoods. Our goal is to acquire and develop a minimum 10 single family housing units per year.
Over the past two years, CPSFL purchased three properties in Palm Beach County with the goal of creating 32 new for sale townhouses and 40 units of rental units priced below market rate. We are in various stages of planning and development on these properties. With increases in building costs related to increased labor and materials, our biggest challenge is securing the financing and equity it takes to build units that remain affordable for families with household incomes between $48,000 and $100,000 (which is the county’s definition of workforce housing).
If these projects interest you, let’s talk! (Reach me at info@cp-cto.org) There is so much more that we can do together.
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Scott Hansel, CEO
Community Partners of South Florida
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