County commissioners help cut the ribbon on affordable housing complex
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County commissioners help cut the ribbon on affordable housing complex

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LEESBURG – May 12, 2014 – (RealEstateRama) — The Lake County Board of County Commissioners is joining LifeStream Behavioral Center at 11 a.m. on Monday, May 19 for a ribbon cutting ceremony and open house celebrating the newly renovated Hope Springs Villas, located at 1171 Bentley Road in Leesburg.

The complex consists of 35 affordable housing units which include a manager’s apartment, laundry room, 18 two-bedroom units and 16 one-bedroom units. The $1.9 million renovation took nearly six months to complete, but the property has undergone substantial improvements over the last four years. The property was previously deteriorating, having been foreclosed and abandoned.

Hope Springs Villas was funded by a grant from the county’s Neighborhood Stabilization Program through a Housing and Urban Development grant. The recently completed improvements include the completely renovated apartments, repaving of the parking lot, landscaping and lighting upgrades, new appliances, new roofing, renovated property manager’s office, new laundry room and upgraded HVAC and electrical system.

The Neighborhood Stabilization Program was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment, authorized under the Housing & Economic Recovery Act (HERA) of 2008. he program’s major goal is to purchase and redevelop foreclosed and abandoned homes and residential properties, and also stabilize communities within strategic targeted areas.

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Lake County media contact:
Elisha Pappacoda
Public Information Officer
Office: 352-343-9609; Cell: 352-460-2851
epappacoda (at) lakecountyfl (dot) gov

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