How hard can it be for Central Florida families to find a good, affordable place to call home? For Shanaqua and Frankie Gibson, it wasn’t easy. Over the years, the couple and their three children lived with family members and even in a hotel before they finally found a place of their own. Unfortunately, while the rental property on South Street fit their limited budget, the conditions made daily life unbearable, and even dangerous. The roof leaked in every room. A red substance dripped from the bathroom ceiling. Rats came in through holes in the kitchen, leaving droppings on the floors and counters. Cockroaches scurried into the corners any time a light flickered on. This was no place for a family to call home.
Today, thanks to the Parramore Asset Stabilization Fund, Shanaqua and Frankie’s place has a new roof, kitchen, bathroom, flooring, and an entirely new HVAC system. Certificates of accomplishment and volunteerism, earned by family members, hang proudly on the walls, and inspirational scripture verses greet anyone who comes through the door. Most important of all, the family lives in a clean, comfortable, and safe place to call home.
A collaboration for good
With such rapid growth happening across Orlando, rising rents and a shortage of affordable housing leave many families, such as the Gibsons, feeling stuck. And they’re not alone. Nearly 46% of Orlando households are cost burdened, meaning they spend more than 30% of their income on housing*.
Parramore, which sits in the heart of Orlando, is a historically Black neighborhood. An estimated half of Parramore residents live below the poverty level†, making this community particularly vulnerable to the rising costs brought on by Orlando’s recent growth spurt.
As Orlando grows, a safe and healthy home shouldn't become a luxury. That’s why three nonprofits joined forces in February 2019: Central Florida Foundation, Florida Community Loan Fund, and New Jersey Community Capital. Together they formed the Parramore Asset Stabilization Fund (PASF), which addresses the pressures of growth in one of Orlando’s most historic neighborhoods. The goal of PASF is to improve and preserve quality, long-term, affordable rental housing in Parramore through an $8 million investment.
PASF purchased 83 scattered-site residential units across 44 properties in Orlando’s Parramore neighborhood, with a commitment to renovate the homes and keep rents affordable. PASF even hired Frankie to be a part of its renovation team, allowing him to gain hands-on experience while transforming his own family home.
"This experience has helped me to learn new skills that I’ll be able to take to future jobs and better support my family," said Frankie.
Major renovations included new roofs, kitchens, bathrooms, flooring, and in many instances, entirely new HVAC systems. In addition, in partnership with the Orlando Utilities Commission, the homes received energy conservation upgrades to reduce monthly utility bills for residents, things like attic insulation, duct repairs, efficient showerheads, low-flow toilets, energy-efficient lighting, window replacements, and new heat pumps. And despite all the renovations and improvements, rent will stay affordable for residents.
Residents April and James were also thrilled about the changes made to their home. They shared, “This is like a dream come true. Everything they did in here, compared with how we were living… this is just wonderful.”
James adds that he and his wife are no longer ashamed of their living conditions. "Now, people come over and we're glad they come over and see how everything looks. It really makes us feel good," he says.
"Now, people come over and we're glad they come over and see how everything looks. It really makes us feel good."– James, PASF resident
More than housing
One of the key aspects of PASF is its property manager, who serves as the primary point of contact for residents. Safety and preventative maintenance are top priorities for PASF, and because the property manager is in regular contact with residents, issues are caught and handled quickly. Beyond the typical property manager duties of collecting rent and addressing resident concerns, the PASF property manager also represents residents in the community, connects them to local services and resources, works alongside residents and community leaders on neighborhood projects, and even performs regular wellness checks on elderly residents.
When PASF began encouraging residents to pay rent and handle requests online, the property manager organized computer literacy training and pointed residents without a laptop or smartphone to nearby community computer labs. For residents who fall behind on rent, the property manager makes sure they understand their options, including a flexible payment plan offered through the tenant portal.
PASF resident William moved into his rental home in 2014, before the properties were purchased by PASF. He and his daughter have seen the changes made by PASF firsthand after it bought his and other area rental homes. He is very pleased with the maintenance updates, the well-run management team, and the additional support from the property manager.
This support became even more important for William during the COVID-19 pandemic. “I was very appreciative that one of my concerns was taken care of – my rent. [Our property manager] was wonderful at letting me know about applying for unemployment and even helped me with the application process. She and the rest of the property management team never pressured me about making my rent payments when I was furloughed for a month. They kept letting me know to pay what I could during my furlough, and letting us know about the different rental assistance programs. I always felt comfortable and welcomed when discussing my concerns about rental assistance. I am incredibly happy with this new management team and all the help I have received from them.”
“I always felt comfortable and welcomed when discussing my concerns about rental assistance. I am incredibly happy with this new management team and all the help I have received from them.”– William, PASF Resident
A new place to live, and a new life
Growing up in their safe and stable home, the Gibsons’ three children now feel secure enough to focus on homework and just being kids. Shanaqua and Frankie have more peace of mind; there are no surprises waiting at home, and if any issues arise, they can always count on support from the PASF property manager.
“My family is everything to me and it makes a big difference to live in a place that I’m proud to call home,” said Shanaqua.
Our Partners
Parramore Asset Stabilization Fund thanks these partners for their support:
City of Orlando • Orlando Community Redevelopment Agency (CRA) • Orlando Utilities Commission (OUC) • JPMorgan Chase Foundation • Central Florida Foundation • Florida Community Loan Fund • New Jersey Community Capital • SunTrust and BB&T (now Truist) • Seaside National Bank & Trust (now United Community Bank) • Wells Fargo • Orlando City Soccer Club • Orlando Magic • and several private donors
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*U.S. Census Bureau. "Financial Characteristics." American Community Survey, ACS 1-Year Estimates Subject Tables, Table S2503, https://data.census.gov/table/ACSST1Y2024.S2503?q=orlando,+florida+housing+costs&g=1400000US12095010400,12095010500&tp=false. Accessed on 24 Sep 2026.
† U.S. Census Bureau. "Poverty Status in the Past 12 Months." American Community Survey, ACS 5-Year Estimates Subject Tables, Table S1701, https://data.census.gov/table/ACSST5Y2024.S1701?g=1400000US12095010400,12095010500. Accessed on 24 Sep 2026.
