Ellavoz Impact Capital Celebrates Cedar Creek Estates with Site Dedication in Jacksonville, Florida
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Albo urged to go hard on Trump
Anthony Albanese should play hardball with the US on beef as tariff talks grind on, Nationals leader David Littleproud says. American beef imports have emerged as a key negotiating item in the Albanese government's efforts to secure a tariff carve out. The Trump administration has been pushing for Australia to loosen import rules to include beef from cattle originating in Canada and Mexico but slaughtered in the US. The Prime Minister has confirmed biosecurity officials were reviewing the request but vowed his government would not 'compromise' Australia's strict bio laws. But the prospect of changing laws has sparked unease among cattle farmers worried about keeping bovine diseases well away from the country's shores. With beef imports seemingly key to securing a US tariff exemption, Mr Littleproud on Monday said there needed to be some 'perspective'. 'The United States does need Australia and other countries to import beef to be able to put on their hamburgers,' he told Sky News. 'They don't have the production capacity to be able to produce the type of beef that goes on their hamburgers. 'So this is a tax on themselves that they put on Australian beef.' Despite being subject to the blanket 10 per cent tariffs on foreign imports, Australian beef into the US has risen by 32 per cent this year, according to Meat and Livestock Australia. Meanwhile, the cost of domestically produced beef within the US has been climbing, as cattle farmers struggle with drought. Mr Littleproud said the Nationals were not against importing American beef provided that it was from cattle 'born in the United States and bred all the way through to their slaughter in the United States'. But beef from cattle originating in third countries was a risk because 'we don't have the traceability that we have over the US production system'. 'And that's why Anthony Albanese needed to rule out straight away that he would not open that up to those cattle that were born in Canada, Mexico, or anywhere else in the Americas, because that poses a significant risk unless we can trace those cattle,' Mr Littleproud said. Mr Albanese has been clear in saying he would 'never loosen any rules regarding our biosecurity'. But he has also said that if a deal can be struck 'in a way that protects our biosecurity, of course we don't just say no'. Mr Littleproud acknowledged Mr Albanese's words but said 'when you see reports from departments saying this is what's on the table in terms of negotiations – where there's smoke, there's fire'. In addition to the baseline 10 per cent duties on foreign goods, Australia has also been subjected to 50 per cent tariffs on steel and aluminium. Only the UK has been able to secure a partial exemption from the Donald Trump's tariffs. A key UK concession was scrapping its 20 per cent imposts on American beef and raising the import quota to 13,000 metric tonnes. But with many British goods still subject to tariffs, analysts have questioned whether the deal was worth it. The US has trade surpluses with both the UK and Australia. Though, Australia also has a free-trade agreement with the US, meaning goods should be traded mostly uninhibited. The Albanese government has repeatedly criticised Mr Trump's decision to slap tariffs on Australian products as 'economic self-harm' and 'not the act of a friend'.
CNBC
an hour ago
- CNBC
China consumer prices slump again, deepening deflation worries as demand stays weak
China's consumer prices fell for a fourth consecutive month in May, as Beijing's stimulus measures appear insufficient to boost domestic consumption while trade tensions simmer. The consumer price index fell 0.1% from a year earlier, according to data from the National Bureau of Statistics released Monday, compared with the median estimate for a 0.2% decline among analysts polled by Reuters. The CPI slipped into negative territory in February, falling 0.7% from a year ago, and continued to post year-on-year declines of 0.1% in March and April. Separately, deflation in the country's factory-gate or producer prices deepened, falling 3.3% from a year earlier in May, a sharper decline than analysts' expectations for a 3.2% drop. The wholesale prices have remained in deflationary territory since October 2022, according to LSEG data. On May 7, Chinese top financial regulators unleashed a flurry of policy steps aimed at bolstering the country's tariff-hit economy. China's central bank cut the key interest rates by 10 basis points to historic-low levels and lowered the reserve requirement ratio, which determines the amount of cash banks must hold in reserves, by 50 basis points. U.S. President Donald Trump had ratcheted up tariffs on Chinese goods to prohibitive levels of 145%, prompting Beijing to retaliate with duties and other restrictive measures, such as export controls on its critical minerals. On May 12, the economy got a relief after U.S. and China struck a preliminary deal in Geneva, Switzerland that led both sides to drop a majority of tariffs. Washington lowered its levies on Chinese goods to 51.1% while Beijing dropped taxes on American imports to 32.6%, according to think tank Peterson Institute for International Economics, allowing some room for both sides to negotiate a broader deal.
Yahoo
2 hours ago
- Yahoo
How Much the Average Homeowner Has in Savings vs. the Average Renter
Housing is the largest expense for the average American consumer. The more people have to spend on housing, the less money they have available to invest, save, or spend in other categories. But does owning your home instead of renting affect how much you have in your savings account? And is it the best financial decision for you right now? Check Out: Try This: The Federal Reserve's most recent Survey of Consumer Finances suggests the answer is yes. Here's how the average renter's savings compares to those of the average homeowner. The Survey of Consumer Finances data goes back to 1989, and since then, homeowners have always had more in savings than renters, on average. However, the gap between homeowners' and renters' savings has been growing. For example, in 1995, on average, homeowners had around twice as much saved as renters. Now, homeowners have five times more in savings than the average renter. Up Next: The most recent national data estimates that the average renter had $16,930 in savings. That includes all money in savings, checking, emergency funds and money market accounts. Though rent amounts will vary greatly depending on your location and size of your space, the current national average rent in the United States ranges from about $1,625 to $2,100 per month, which is a 1.1% increase compared to last year. By comparison, the average homeowner had $85,430 in savings, which is nearly $70,000 more than the average renter. That's a big difference when it comes to what you're able to allocate for emergency savings and retirement accounts. However, buying a home is not an option for the average savings, as the national average house price in the U.S. for Q1 2025 is $503,800, whereas the median sales price in the same period was $416,900, Perhaps counterintuitively, renting is often less expensive than owning a home. In the largest 50 metropolitan areas in the U.S., the median cost of renting is currently $1,398. This figure has been trending modestly downward since the second half of 2022, and represents the middle ground, with half of rents being higher and half lower, so it is quite subject to fluctuations. The median home price is currently $416,900, and the average mortgage rate is 6.97%, per the Fed. With a 20% down payment and a 30-year fixed-rate mortgage, your monthly mortgage payment likely ranges from $2,167 to $2,715, excluding taxes and insurance. High interest rates are likely driving most of the higher costs of homeownership. If mortgage rates go down as expected, monthly mortgage payments will decrease. However, despite the higher costs, homeowners still save more than renters. So why is there such a big difference between how much renters save and how much homeowners do? One explanation is that rental prices continually increase while the cost of owning a home stays relatively stable after the purchase. Say you buy a new home with a 30-year fixed-rate mortgage. Your monthly housing costs will be stable for the 30 years of the loan. After you've paid off your mortgage, you'll have to pay only taxes, insurance and maintenance. Unexpected maintenance costs, such as roof damage or broken pipes, can eat into a homeowner's savings, whereas renters don't have to pay for these costs out of pocket since they're the landlord's responsibility. However, renters do have to cover rising rental rates nearly every year. Since 2019, rent prices have increased by around 19% nationwide. Rising rent prices can take up larger and larger chunks of renters' budgets. As their housing costs increase, they have less money to put toward savings and other financial goals. By comparison, homeowners have more of their income to put into savings after paying off their mortgages. The bottom line is that if you're a renter hoping to put more in your bank account, you should try these money-saving strategies: Pay off debt with high interest rates: High-interest debt can prevent you from building your savings. Start by paying off any loans with high interest rates, like credit card debt. Live with a roommate: Splitting your housing costs with a roommate will give you extra money each month to put toward savings. Renegotiate with your landlord: When your lease is up and it's time to sign a new one, negotiate your monthly payment. If your landlord charges more than the market rate, it may be worth moving to a more affordable home. Finally, remember to put at least some of your savings into a high-yield savings account so you can grow your money. Caitlyn Moorhead contributed to the reporting for this article. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard How Much Money Is Needed To Be Considered Middle Class in Every State? 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on How Much the Average Homeowner Has in Savings vs. the Average Renter Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
