SRQ Realtor

It’s getting more difficult to build projects involving mixed-income housing. CED Construction, a workforce housing developer, says rising land prices and the need for new schools and road upgrades make it difficult for it to profitably build mixed-income housing. Officials say the company’s $36 million Marbella project in Orange County, where 40 percent of units will be reserved for households earning no more than 60 percent of the local median income, may be the last affordable-housing development there for some time. “We have two issues that compete within our community: the need
for affordable housing, and school and transportation concurrency rules,” explains CED Construction Vice President Scott Culp. “It is very difficult to get a site for these projects that meets all of the regulations.” Orange County housing and community development manager Mitch Glasser says recommendations from a task force of developers and county officials on ways to continue producing affordable housing are expected by May.

Source: Orlando Sentinel (FL) (01/16/07) Rivera-Lyles, Jeannette
© Copyright 2007 INFORMATION, INC. Bethesda, MD

This entry was posted on Tuesday, January 16th, 2007 at 10:02 am and is filed under Economy & Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.