Vertical Construction is Well Underway
JACKSONVILLE, Fla.–(BUSINESS WIRE)–Ellavoz Impact Capital (EIC), a leading real estate impact investment and management firm, celebrated their new project by hosting a site dedication of Cedar Creek Estates. The project began vertical construction in April. Located within an Opportunity Zone in Jacksonville, Florida, this innovative build-to-rent single family residential community will help satisfy the growing demand for affordable, high-quality housing in Jacksonville. The project, with an estimated cost of $14 million, is transforming nine acres into 45 comfortable, single-family homes. EIC is committed to creating a living environment that not only provides much-needed housing but also encourages a strong sense of community for its residents.
Robert Hutchins, Founder and CEO of Ellavoz Impact Capital, stated, “Our Ellavoz team and impact investors are extremely proud to be part of Jacksonville’s redevelopment. As a veteran preference community, we will serve the people who protect and care for us.” The unique home ownership assistance program will give long-term veteran residents the opportunity to earn a direct grant from Ellavoz when the homes become available for sale.
Mr. Hutchins dedicated Cedar Creek Estates to Kenneth Pizzo, Sr., who not only invested in the project but whose idea it was to honor our veterans and active military. “Ken was a true patriotic American who lived his faith. He was also a tremendously successful builder who had enormous respect for the military. I now have the privilege and honor to carry this project forward after my dear friend passed away.”
Other key highlights of the Cedar Creek Estates project include:
Diverse Home Sizes: The community will feature a variety of living spaces to suit the needs of different families and individuals. The single-family homes will range in size from 1200-to-1650 square feet, offering residents flexibility and choice in their living arrangements.
Build-to-Rent with an Opportunity Toward Homeownership: Ellavoz Impact Capital recognizes the rising popularity of the build-to-rent model and Cedar Creek Estates is designed to meet this demand. This approach offers renters the opportunity to enjoy a modern and well-maintained living space combined with the flexibility of leasing. Additionally, when the homes come up for sale, the residents will have the first opportunity to purchase with a downpayment assistance grant.
Commitment to Community: Ellavoz Impact Capital is dedicated to enhancing the quality of life of all residents within Cedar Creek Estates by incorporating energy efficient features and well-designed public spaces with the goal of fostering a sense of community and well-being.
About Ellavoz Impact Capital:
Ellavoz Impact Capital, LLC, (EIC) is a social impact investor, advisor, asset manager, and real estate developer focused on creating and preserving workforce and affordable housing and other community-oriented real estate properties. EIC’s strategy concentrates investments into price-attainable housing and economic development projects by working with socially aligned operators, local nonprofits, and governmental agencies to deliver positive community outcomes and double bottom line returns.
With locations in Florida, New Jersey and the Carolinas, Ellavoz currently has total managed and controlled assets with a value approaching $300 million. EIC is comprised of certified public accountants, attorneys, as well as real estate, finance, and economic development professionals. The team has both private sector experience and decades-long experience leading large community development financial institutions and nonprofit organizations. Collectively, the management team has led transactions with a total capitalization value of nearly $3 billion.
Contacts
For more information about Ellavoz Impact Capital, visit our website at Ellavoz.com
For media inquiries, contact Chris Ferry @ 732.616.8847
