New Project in Sarasota Aims to Address the Affordable Housing Crisis
For years, a housing crisis has been brewing across Florida. Our state’s healthy real estate market has been growing, and properties have been appreciating. Unfortunately, as wages remain stagnant, many essential workers have been priced out of the areas in which they provide critical services. This is the “affordable housing crisis” that has been in the news more and more often in recent years.
While there is still a lot of work to be done on large-scale solutions that address systemic problems, local communities are starting small. A new project in Sarasota could be a good example for other communities looking to tackle this problem.
The Sarasota Herald-Tribune reports that ground has broken on a new affordable housing project in Sarasota. Lofts on Lemon, a complex that will have 128 housing units, is designed to house Sarasota’s “hometown heroes.” Many teachers, first responders, and healthcare workers have been priced out of Sarasota’s booming real estate market.
The Sarasota Housing Authority noted that one teacher had to commute every day from North Port because that was where she could afford to live. The Lofts on Lemon project will have 76 units designated for families that earn up to 60 percent of the median area income, and 52 units for families earning up to 100 percent of the median area income. This project brings hope, but it does not help the thousands of Florida families that are facing a housing crisis in the wake of the coronavirus pandemic.
Speak with Oviedo and Casselberry Foreclosure and Eviction Lawyers
The experienced Casselberry and Oviedo eviction and foreclosure attorneys at Quattrochi and Torres are here to help all Florida homeowners stay in their homes. Call 407.452.4918 or contact us online today to schedule your free consultation. The sooner you get legal advice, the better options you will have.