ORLANDO, FL - Lincoln Avenue Capital (LAC), a mission-driven acquirer and developer of affordable housing, announced that it has completed a significant rehabilitation of Valencia Park. The 208-unit affordable property in Orlando, Florida currently serves about 800 residents. LAC closed on the acquisition of the property in January 2021 and as part of the rehabilitation, extended the property's affordability restriction for another 30 years.
"Lincoln Avenue Capital is a mission-driven company that works to strengthen communities through affordable housing," said LAC CEO Jeremy Bronfman. "We are proud to expand our impact in Orlando by providing high-quality, sustainable homes for nearly 800 residents."
"We look forward to preserving and extending the affordability of Valencia Park for another generation of residents," said Eli Bronfman, LAC Managing Partner.
Lincoln Avenue Capital invested significantly in rehabilitating and upgrading the property. Completed upgrades to individual units include new kitchen appliances, new countertops, and vinyl plank flooring. The buildings received fresh paint and new windows as well as HVAC and electrical system improvements.
"I am thrilled about the recent renovations—it almost feels like I am living in a new place entirely," said resident Kim Lopez, who has lived at the property since 2015. "From the new flooring to appliances, upgrades across the board have made a positive impact on my daily life."
LAC equipped the property with a range of new sustainability features such as energy-efficient windows in each unit, low-flow appliances that preserve water, and daylight sensors attached to the buildings to conserve electricity. Additionally, LAC improved the site's accessibility with new wheelchair-accessible paths installed throughout the property.
Valencia Park currently offers residents outdoor amenities including a swimming pool, playground, and basketball court. The property management and resident services teams will continue to provide residents with opportunities to connect through community picnics, holiday parties and programming for children on a regularly scheduled basis.