An affordable housing community that is home to nearly 800 residents in Orlando has been significantly rehabilitated and upgraded after it was purchased by an investment group.
That group, Lincoln Avenue Capital, completed the purchase of the 208-unit Valencia Park Apartments in January 2021. As part of the rehabilitation, the property, which is located at 532 Park Tree Terrace in east Orlando, had its affordability restriction extended for 30 additional 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.”
The company implemented multiple upgrades to individual units including new kitchen appliances, countertops, and vinyl plank flooring. All of the property’s buildings were re-painted and outfitted with new windows, and HVAC and electrical system improvements were made.
Additionally, the site’s accessibility was improved through the installation of new wheelchair-accessible paths throughout the property.
“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 Valencia Park since 2015. Lopez says that the upgrades have “made a positive impact” on her daily life.
Valencia Park’s amenities include a swimming pool, playground, and basketball court. The property management and resident services teams say they will continue to provide residents with opportunities to connect through community picnics, holiday parties and programming for children on a regularly scheduled basis.