This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Springboard, MMI Close On Affordable Housing Property In Orlando

RIVERSIDE, Calif., Jan. 9, 2013 /PRNewswire/ --  Springboard Nonprofit Consumer Credit Management Inc. and Money Management International (MMI) closed escrow December 21, 2012 on a 240-unit multi-family affordable housing property  in Orlando, Florida.

(Photo:  http://photos.prnewswire.com/prnh/20130109/DC39638)

The $12.5 million acquisition of Seminole Ridge Apartments, which will assist an estimated 850 Orlando residents annually, is the first step in a joint venture by the nonprofit organizations to provide affordable housing options in areas of high-need.

"We hope that in bringing our Social Conscious Management approach to Seminole Ridge, we will not only help hundreds of residents improve their quality of life, but will also set the foundation for the future of affordable housing in the U.S.," said Todd Emerson, Springboard President and CEO.

Through a $25 million Affordable Housing Fund, Springboard and MMI are raising funds to bring this affordable housing initiative to thousands of low- to moderate-income individuals and families in states impacted most by the housing crisis.

This affordable housing initiative is unique in that it combines financial education and housing counseling with affordable rent rates. Residents will have access to rental units at a rate of no more than 30 percent of the household's income — which is significant considering 12 million Americans are currently paying more than 50 percent of their gross income on rent, according to the U.S. Department of Housing and Urban Development (HUD).

In addition, through the Social Conscious Management approach, residents will be given the opportunity to take part in special community events and activities aimed at facilitating personal growth. Residents will also participate in housing counseling sessions and financial education workshops designed to give families and individuals the tools needed to successfully live within a fixed budget — while also planning for the future.  

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs