How Millennia Preserved Affordable, Section 8 Housing with Valencia Way
*ATLANTA, GA / ACCESSWIRE / January 10, 2024 / *In a remarkable effort to transform distressed living conditions into quality affordable housing, The Millennia Companies (Millennia) recently celebrated the completion of a substantial rehabilitation project across four affordable housing developments in Jacksonville, Florida. The ribbon-cutting ceremony at Valencia Way marked the culmination of a comprehensive $94 million renovation initiative that not only enhanced the physical conditions of these communities but also preserved the affordability of 768 apartments.
The rehabilitated developments underwent extensive upgrades to both interiors and exteriors. New kitchens and bathrooms, improvements to major electrical, plumbing, and mechanical systems, and enhancements to grounds and security features were integral parts of the rehabilitation process. These transformative measures were aimed at providing safe, sanitary, and decent housing for hundreds of families.
The focal point of this revitalization effort was Valencia Way (formerly Eureka Gardens), the largest of their complexes, with 400 units. A significant portion of the $94 million investment was directed towards Valencia Way, resulting in the creation of a new community center. This center serves as a hub for various resident services, including youth activities, health and wellness workshops, and empowerment groups. The addition of fitness rooms, meeting spaces, and activity centers further enriches the lives of the community's residents.
In addition to the substantial renovations at Valencia Way, Millennia expanded its impact by purchasing and renovating three other properties previously owned by Global Ministries Foundation. Calloway Cove, The Weldon on Moncrief Road, and Palmetto Glen on Willow Street were all part of the same $94 million project. This holistic approach to revitalization garnered praise from various stakeholders, including government officials and industry partners.
An executive at Millennia expressed pride in overcoming the challenges posed by significantly distressed apartment developments, noting, "Not only have we preserved numerous affordable housing apartments at a time when they are deeply needed, but we also created community spaces for services that further enrich the lives of residents."
United States Senator Marco Rubio (R-FL), who witnessed the horrifying living conditions in 2016, commended Millennia for taking ownership and working diligently to rehabilitate what is now Valencia Way. Rubio expressed gratitude to The Millennia Companies for their efforts, emphasizing the positive impact on tenants' lives.
Millennia's commitment to affordable housing preservation extends beyond mere renovation; it represents a testament to the transformative power of public-private partnerships in creating thriving communities. The Valencia Way project stands as an example of how concerted efforts can turn distressed housing into safe, vibrant spaces that positively impact the lives of residents.
*CONTACT:*
Andrew Mitchell
media@cambridgeglobal.com
*SOURCE: *Cambridge Global
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