A $213,750 house
A block of city-owned land will be sold for less than a third of its value in order to encourage construction of affordable houses in Parramore, Orlando's poorest community.
is affordable housing ??!!??
But the least expensive of the homes will cost $213,750.
About 10 residential units will be sold as "affordable housing." That means buyers of those units must earn no more than 120% percent of the area's median wage. For a family of four, that's $66,120 -- an amount that is far more than most Parramore residents earn and an impossible dream for far too many people in a city where 13% of the population lives below the poverty line.
The sale of the property near Orlando's arena was approved by the City Commission.*
Read the Orlando Sentinel report here. And check out the Orlando Weekly's commentary here.
* Giving credit where credit is due: Commissioner Patty Sheehan cast the only vote against the deal.