Weaver ‘Property Preservation’ and Enterprise Foundation Grants Aids Affordable Rental Program

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 By Mike Bonts, Real Estate Wire

ST. AUGUSTINE – The St. Johns Housing Partnership (SJHP) shared some good news.

The St. Johns Housing Partnership received a generous “Property Preservation” grant from the Delores Barr Weaver Legacy Fund through the Community Foundation of Northeast Florida to prepare for the acquisition of two long-time USDA apartment communities this year.

  • Pinewood Apartments, Green Cove Springs — 54 homes serving seniors
  • Crescent Lakes Apartments, Crescent City — 30 homes for working families and individuals

“The Weaver grant allows us to leverage property maintenance funds, which are never adequate on older properties. It’s a great start to show the residents a positive change is coming,” noted SJHP Executive Director Bill Lazar. “This grant prepares us to better tackle immediate maintenance and small repairs.”

The properties are more than 40 years old, and this funding gives SJHP the opportunity to make visible improvements right away without pressure to increase rents or delay needed work.

SJHP was also the recipient of a $50,000 HUD Section 4 grant from Enterprise Community Partners, a nationally recognized leader in affordable housing solutions.

“The grant will improve the capacity of our property management staff as we prepare to take on larger property maintenance duties, added Lazar.

It also helped to fund a refinancing plan that involves both lending from Valley Bank and the Community Foundation to cover many of the larger capital needs improvements to our rental portfolio that cannot be covered by the annual rental income.

Most importantly, the Delores Barr Weaver Legacy Fund and the Enterprise Community Foundation grants send a clear message to SJHP’s rental residents: positive change is coming.

For more information visit www.sjhp.org.

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