Affordable DevCorp, LLC | Application Preview
Affordable DevCorp, LLC is seeking government grants to secure working capital that will allow them to manage upfront job costs while awaiting project reimbursements. The company is focused on delivering high-quality affordable housing, emphasizing that affordability does not equate to substandard living conditions. They have already made an impact in their community by renovating six units for a local church and even fully furnishing one unit for a resident in need.
Looking ahead, Affordable DevCorp plans to embark on larger projects starting in the fourth quarter of 2024 and into 2025. They highlight the pressing need for affordable housing in Miami, aiming to provide well-equipped homes that respect residents' dignity. Their unique approach involves tackling smaller renovations alongside larger developments, allowing them to address the housing crisis both in the short and long term. They assert that there are currently no small developers dedicated to affordable housing, giving them a distinctive edge in the market as they pursue site plan approvals for mid-rise buildings. By investing in their company, they aim to expand their reach and continue providing quality affordable housing options.
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General Information
Business Registration Number: 92-0923432
Location: Miami, FL, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
Working capital for us to be able to front job costs while waiting for reimbursements on projects
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Business Plan
We are developing larger and larger projects that will break ground in q4 of 2024 and 2025 We are dedicated to delivering affordable housing to the market that gives pride to the residents. We do not believe that "affordable" should mean "less than". In our first year, we renovated 6 units for a local church; one of the residents had nothing to her name so we furnished the unit fully for her out of our own pockets. We believe that investing in the community will help us grow stronger. Miami has a serious need for non-luxury units, however that doesn't mean "amenity free". By investing in us, we will further our reach and provide more affordable roofs over people's heads.
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Self Identified Competition
To our knowledge, there are no small developers focused on affordable development. We take on small projects as we believe that by restoring dilapidated units while developing large scale apartment buildings, we are solving the housing crisis in an immediate and long term manner. There is no reason off line apartments cannot be invested in and brought back to life to get affordable units into the market. We do this while going after site plan approval for mid-rise affordable buildings.
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Contact Applicant
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