Tuesday, December 12, 2006

A $213,750 house
is affordable housing ??!!??

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.

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.


At 12:37 PM, Anonymous Randal said...

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