Orlando, Florida, is known for its hospitality and tourist attractions, not its affordable housing. According to the National Low Income Housing Coalition, the metro area has 65,480 extremely low-income renters and only 9,620 affordable and available rental homes—leaving more than 55,000 Floridians in challenging circumstances.
“There is a critical need for more housing—specifically affordable housing—throughout Central Florida,” said Ryan von Weller, Chief Operating Officer of Wendover Housing Partners.
Wendover along with Universal Destinations & Experiences, JPMorgan Chase and Orange County, Florida—and many State and local finance authorities—are helping increase Orlando’s affordable housing supply.
How the project’s public and private entities came together
Part of what makes the project unique is the public-private relationship between Orange County, Universal and Wendover.
“We all have the same goal. And by working together, we can accomplish more than just housing for residents—we can improve their quality of life,” von Weller said.
Through its Housing for Tomorrow initiative, Universal pledged a 20-acre parcel for affordable housing, which supports Orange County’s Housing for All task force prioritizing solutions to the local affordable housing shortage.
“A $10-a-year, 99-year lease was signed to ensure that Catchlight Crossings remains affordable in perpetuity,” von Weller said. “Some corporations have donated money toward affordable housing initiatives, but this is a rare instance where a major employer has donated land for the sole purpose of creating affordable housing.”
Universal conducted a nationwide search and chose Wendover as the developer for Catchlight Crossings; Wendover will also serve as the community’s property management.
JPMorgan Chase’s role in Catchlight Crossings
$29.1M
in JPMorgan Chase financing provided to Wendover Housing Partners
“Together with Wendover and Universal we are redefining what affordable housing can and should be by creating a model that can be replicated to help address the affordable housing crisis on a national level,” said Tammy Haylock-Moore, Managing Director at JPMorgan Chase Community Development Banking.
More than an apartment complex
The first 300 affordable units are scheduled for completion in 2025; 600 of the community’s 1,000 units will be targeted to residents earning 60% or less of the area median income (AMI). The remaining 400 units will be designated as workforce housing, targeting renters earning 61%–120% of the AMI.
Catchlight Crossings will also include:
- Amenities such as community event space, resort-style pools, a fitness center, a game room, bike and walking paths, a community garden and 4 acres of open green space
- A pedestrian-first layout—no driving is permitted throughout the campus; the community has structured garages for resident parking and a transportation center for buses, ride sharing and employer shuttles
- Proximity to the proposed Sunshine Corridor railway connecting to the Orlando International Airport and Orange County Convention Center with direct connections to South Florida via the Brightline
- On-site, tuition-free Bezos Academy Montessori preschool, continuing educational opportunities with the University of Central Florida, as well as community healthcare through medical centers
“Catchlight Crossings is more than just an apartment community,” von Weller said. “Residents will have an affordable place to call home, in addition to on-site amenities and services, retail and play areas, and access to transportation and nearby jobs.”
Catchlight Crossings’ community impact
“Each of the services and amenities were thoughtfully planned with residents in mind, taking into consideration our beautiful weather, fun activities and services we anticipate residents will need,” von Weller said.
Catchlight Crossing’s transportation center can accommodate varied work schedules and different transportation needs. There are also many services and amenities for families. For example, families can host a birthday party in the game room, use the grilling gazebo for a barbecue or have the kids enjoy running around at the playground.
Education is also a big factor—whether that means adults taking classes to further their education or having peace of mind when dropping children off at preschool. “The preschool is going to be a huge convenience factor for families,” von Weller said. “In Florida, daycare typically runs around $1,000 a month or more. With the tuition-free preschool, we’re helping take the financial stress off residents to enhance their quality of life.”
“From the beginning, we set out to create Catchlight Crossings as a first-of-its-kind affordable housing solution,” he said. “Our goal is to set a new standard for affordable housing in hopes that this model will be replicated across the country.”
“At JPMorgan Chase, we remain committed to financing projects like this that help our communities thrive not only today but well into the future,” Haylock-Moore said. “We cannot wait to celebrate the doors opening at Catchlight Crossings.”
Images credit: Wendover Housing Partners
