NLP provided a $2,380,000 construction to permanent loan to help finance a major renovation of 144 units
of scattered site public housing owned by the Housing Authority of the City of Cocoa in Cocoa, Florida.
Built in the 1960's, the property now known as Pineda Village was starting to show its age. This is not
uncommon for many housing authority properties in which there is a backlog of costly deferred
As a result of the leadership of the Housing Authority of the City of Cocoa and Smith &
Henzy Advisory Group, they were able to take advantage of HUD's Rental Assistance Demonstration (RAD)
program that allowed them to secure low income housing tax credits (LIHTC) and a more stable source of
long term revenue. The result of this innovative financing structure is much nicer apartment units for
residents equipped with updated kitchens and bathrooms. The older AC window units were also replaced
with central air conditioning, which was a welcome change for residents, some of whom are seniors and/or
have a disability.
"Despite all the obstacles of blending together financing from multiple entities which can be quite a task,
everyone worked together to get the job done in a compressed time frame. Neighborhood Lending Partners
were especially thorough, cordial and dependable."
- Herb Hernandez,
Executive Director,Cocoa Housing Authority
NLP partnered with co-developers, The Housing Authority of the City of Cocoa and Smith & Henzy Advisory
Group, JP Morgan Chase, Florida Housing Finance Corporation, and Hunt Capital on the transformation of