LAKE WORTH, Fla. - TelAve -- Community Partners of South Florida (CPSFL), a long-standing advocate for affordable housing in Palm Beach County, has made a significant investment in the local community with the acquisition of a multi-unit property in Lake Worth Beach.

In June 2024, the non-profit invested $150,000 in the property located at 1741 and 1747 4th Avenue North, with the express purpose of creating and maintaining affordable housing options for Palm Beach County residents.

CPSFL's reserves covered the down payment and closing costs.  However, this acquisition was only made possible through an initial investment from Palm Beach County Housing and Economic Development in the form of a zero interest loan using the State funding facility – SHIP (State Housing Initiatives Partnership Program)

The SHIP funds enable CPSFL to maintain affordable rental rates for households at 60% to 80% of Palm Beach County Area Median Household Income and guarantee affordability for 50 years.

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Beyond providing affordable rents, CPSFL aims to further reduce rates by an additional $150.00 for the units at 80% and below and $600 for the two units targeting 60% AMI.

The property, constructed in 1980, comprises two buildings totaling ten units. Building 1741 features three one-bedroom units and one two-bedroom unit, while Building 1747 offers five one-bedroom units and one two-bedroom unit.

The organization also offers a level of flexibility often unavailable with mainstream landlords. Recognizing the importance of financial stability, CPSFL provides tenants with the opportunity to participate in their financial literacy classes, equipping them with valuable tools for budgeting, saving and ultimately preventing eviction.

"Affordable housing is the bedrock of a strong community," said Kelly Powell, CEO of Community Partners of South Florida. "At CPSFL, we are committed to ensuring every Palm Beach County resident has access to a safe and affordable home as well as providing education around the rights and responsibilities of a tenancy."

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To further engage the community, Community Partners of South Florida is planning to host a community-wide contest to name the apartment complex. The organization also anticipates hosting a ribbon-cutting ceremony to celebrate this milestone sometime this summer.

For more information about Community Partners of South Florida's commitment to affordable housing, contact Vice President of Housing Services Lynda Charles at lcharles@cpsfl.org

About Community Partners of South Florida

Community Partners of South Florida (http://www.cp-cto.org/) is a $19 million comprehensive community development nonprofit agency headquartered in Riviera Beach that provides services to families facing social, emotional, and financial adversity. By using a unique, breakthrough approach integrating housing and financial empowerment, child and family mental health, and community services, Community Partners of South Florida creates self-sustaining families and communities and serves as a driver for growing its local economy.