$3.7M CDFI Mortgage With the City of Dania Beach as Borrower on the City Place Site

The unusual line on this record is the borrower. Neighborhood Lending Partners, a Tampa based certified community development financial institution, recorded a $3,700,000 mortgage on the 1.24 acre parcel at 75 Park Avenue East in downtown Dania Beach, executed April 10, 2026 and recorded April 15 under Broward County document 120809510. The owner and borrower of record is the City of Dania Beach. Local governments appear in mortgage indexes all the time as lenders of soft housing money. A city standing on the borrower side of a CDFI mortgage is the reverse of the usual arrangement, and it is what sets this closing apart.

The parcel is the site of City Place Apartments, a nine-story affordable and workforce housing tower marketed at 75 Park Avenue West; the county record carries the east-facing address variant for the same assemblage. The city commission approved the site plan unanimously in March 2022 as 110 units, 100 of them affordable and 10 market rate, over roughly 2,500 square feet of ground-floor commercial space, developed by a Miami based firm. Construction finished in February 2024 and the building is leasing. The county assessor attributes still attached to this record, vacant commercial land with three small structures, are stale pre-development data; the prior owner of record, City Place Apartments Ltd, was the project ownership entity.

The recorded debt history is a complete affordable housing capital stack, layer by layer. On January 25 and 26, 2023, four mortgages hit the parcel at once: $26,000,000 in construction money from Truist Bank on a 36-month term, $3,000,000 from Broward County on a 360-month term, $2,000,000 from United Way of Broward County, and $945,000 of subordinate debt from Neighborhood Lending Partners itself on a 456-month term running to 2061. The city separately extended a $1,000,000 seventeen-year loan and leased ten spaces in the adjacent municipal garage, per its community redevelopment agency's project page. Bank construction credit on top, county and philanthropic soft debt in the middle, CDFI paper with a four-decade tail at the bottom: the county index preserves the whole architecture.

What the 2026 loan does within that architecture is not publicly documented. The record shows timing and parties, and they are suggestive: the Truist construction mortgage carried a recorded maturity of January 25, 2026, and the new $3,700,000 NLP mortgage was recorded less than three months later with the city, a prior financial participant in the project, as borrower. No news item, agenda entry, or program document located for this page explains the loan's role, and this page does not assign it one.

Neighborhood Lending Partners is a certified CDFI structured as a lending consortium of banking institutions, with published programs across affordable multifamily construction, preservation, and permanent lending, layered with LIHTC, SHIP, HOME, and CDBG sources, and self-reported totals above 15,000 affordable units financed. This mortgage is its second recorded position on this single parcel, three years apart, which is its own data point: the lender stayed with the project across two capital events.

Within LoanList's 31 tracked Fort Lauderdale closings the loan ranks 28th by amount. The market's other tracked land closings, $3,500,000 from United Community Bank in Fort Lauderdale, $7,000,000 from S3 Capital in Fort Lauderdale, and $7,900,000 from Genesis Capital in Davie, are conventional private and bank land credit. This record is a different instrument serving a different purpose, and for affordable housing sponsors working in Broward County it names the counterparty that keeps showing up in this deal's file: a Florida CDFI willing to lend into a municipal affordable housing structure twice.