Pablo Towers Opens Its Doors
Pablo Towers opened as a newly built high-rise containing 199 units in 1973 at Jacksonville Beach, Florida. 168 units are Section 8, HUD subsidized, and 31 units are considered market-rate units. The property was managed by a Board of Directors comprised of members who represented the 19 beaches churches that were part of the Beaches Ministerial Association. Pablo Towers is still owned by Beaches Christian Service Corps., Inc, a faith based nonprofit 501, (c) 3 corporation.
2002. A Year of Growth
In 2002, the Jacksonville office of HUD asked the Board of Directors of Pablo Towers to consider purchasing Cooper Holt Manor, a nearby, troubled property that was in receivership. Beaches Elderly Housing Corp., Inc., a faith based, nonprofit 501,
(c) 3 corporation, was formed by the Board of Directors of Pablo Towers in order to purchase this property, which had 104 Section 8 units. The property was completely renovated into an outstanding facility after its purchase, today known as Pablo Hamlet.
2013. A Year of Expansion
In 2013, Pablo Towers made the final payment to HUD on the 40-year facility construction loan. With the mortgage paid and available funds remaining,