Home Ownership

 

In addition to its extensive rental development/management program; CEII is active in the construction and sale of new single family homes to low income first time home buyers.  CEII began this program by completing and selling six existing rehab units having a total value of $327,488.

 

Since that time we have changed our focus to doing only new construction on scattered sites in existing neighborhoods.   Our philosophy has been that the new construction units cost virtually the same as the rehab units and they are far preferable maintenance wise to our first time home buyer clientele, as well as having a greater impact in revitalizing neighborhoods. 

 

Most CEII ownership units are roughly 1,100 SF in size, with three bedroom and two baths. Some are larger, with 1200 to 1400 square feet.  In most cases, home owners pay less on their mortgages than they previously paid for rent. 

 

To find out more about how CEII can help click here.

 

 

Rental Housing

 

CEII has become a significant leader in the affordable rental housing market in the City of Pensacola and Escambia County.  We have now completed 175 units of scattered site rental housing which are managed in-house.  CEII also participated as a partner in the development of 320 units of affordable rental housing on Blue Angel Parkway in Western Escambia County (Stoddert Place). 

 

CEII utilizes a scattered site infill housing approach which is aimed at revitalizing existing neighborhoods by replacing housing stock and bringing new residents back to existing communities.    Many of CEII's tenants are Section 8 voucher holders, with HUD paying a portion of their rent.

CEII manages all its rental housing (with the exception of Stoddert Place) in-house under the management of Gulfside Real Estate Development Corporation. All of CEII's apartments are rented at afforable rents to families or individuals with incomes at 60% or below Escambia County's median income.  Approximately 5% are fully handicap accessible. 

 

All rental units are rented to income eligible families on a Equal Oppotrunity basis. Information on available rental units and income guidelines may be obtained by calling the CEII Rental Office at (850) 438-9855.

 

For more information on our rental housing click here.