Client Chronicles

Carlos Graupera

Palm Street Project, Lancaster City

$250,000 loan

Palm Street ProjectCOMMUNITY REVIVAL, ONE NEIGHBORHOOD AT A TIME. 

The SACA Development Corporation is a subsidiary of the Spanish American Civic Association dedicated to creating affordable rental and owner occupied housing, focusing on the revitalization of blighted and vacant homes. They started by concentrating specifically on single houses throughout the Lancaster area. The Corporation now hopes to make a bigger impact by shifting towards the restoration of whole neighborhoods. Their mission goes hand in hand with Community First Fund’s goal to help create more affordable housing in our 13 county region.

Through this came the Palm Street Project. Located in the south east section of Lancaster, this neighborhood was over looked and deteriorated. They transformed the street into a family friendly location. The neighborhood started out as single dwellings, but SACA made each individual space larger, more comfortable for family living. Each year they handle a significant number of rehabilitation projects of homes that are in disrepair. Once each project is finished, the homes are then returned to the market as affordable housing.

Project Profile

Business type:
Real Estate & Leasing

 

Amount : $250,000

 

Purpose of loan :
Renovation
“SACA’s work of community renewal needs the presence of Community First Fund as a vital partner. They fill the void in the inner city where housing and economic development projects cannot be carried out through traditional lenders alone.”

Carlos Graupera,

Palm Street Project