CITY'S ANALYSIS:
The applicant is proposing a 216 unit apartment development at 2220 Lake Worth Road at the Park of Commerce. The unit mix will consist of
48 one (1) bedroom apartments
144 two (2) bedroom apartments
24 three (3) bedroom apartments
Villages of Lake Worth
216, 3 story rental units on 7.65 acres
Lake Worth and Boutwell Roads
Each one (1) bedroom apartment will have 604 square feet of living area and a 48 square foot balcony; each two (2) bedroom apartment will have 847 square feet of living area and a 48 square foot balcony; and each three (3) bedroom apartment will have 1,001 square feet of living area and a 48 square foot balcony. The units will be allocated throughout seven (7) buildings, with each being three (3) stories with a height of 36 feet 8 inches. A free standing ~ 2,583 square foot clubhouse building (identified as building “E”) will contain a leasing office, conference room, multi-purpose room, kitchen, gym, and restrooms.
As the applicant did not have to provide rental rates, I contacted the general contractor, Ernesto Lopes in Miami. This is his response:
"This will be workforce rents. Our target residents are families with an annual income between $60,000 to $80,000 per year. The anticipated rents are:
1 Bedroom 1 Bath - $850.00/Month
2 Bedroom / 2 Bath - $980.00/ Month
3 Bedroom / 2 Bath - $1,150.00/ Month"
Please note that Workforce housing is generally understood to mean affordable housing for households with earned income that is insufficient to secure quality housing in reasonable proximity to the workplace. Source: Wikipedia.
So what we will be getting folks is MORE affordable housing within the City of Lake Worth and more rentals in a city with over 60% rentals now. The commission thinks this is great stuff, afterall we, instead of the CRA, will get the ad valorem from this project. How much will widening Boutwell Road cost us? How much will all the infrastructure cost us? How much will all the services to this 216 unit rental project cost us that will house at least 432 people and probably more? We might recapture some of our money in 3 decades.
CEO of Habitat for Humanity of Greater Miami, said there is no solid definition for the term, Workforce Housing. “When people think of affordable housing projects, they think the recipients are moochers who are getting something for nothing,” he said. “But if you call it workforce housing, they think of nurses and police officers.” How come the commission just doesn't get that?
At least they are smart enough to do it near the trirail station, they need to build up close to public transportation, it is happening all over the country to prevent urban sprawl. Maybe it will make that area look nicer, the only problem is that traffic there is going to be horrible now. They will need to make LW Road three lanes each side now too like they have west of Congress. Traffic is going to be crazy.
ReplyDeleteKudos to the Commission for bringing progress and new residents to lw. I personally and always happy to share our wonderful town with new people.
ReplyDeleteFuture Section 8
ReplyDeleteThe poster at 10:45 must be a realtor or some other sort of dud who make his money from whoring our town.
ReplyDeleteI hope somebody does their homework on the developer to see if any of the "for-profit' (tax paying) projects he's built have stayed that way.
ReplyDeleteAre deed restrictions in place keeping this property on the tax rolls?
One of the biggest reasons La Jolla Village was chosen was the developer's commitment to pay property taxes even though he qualified not to, unlike the other proposer.
Well run rental communities are not necessarily a bad thing. Look at the location. Look at the amenities. It has everything to do with the management. What type of background and credit checks will they run on prospective tenants? How strict are the rules about pets, parking, what you may have on your balcony? In your windows?
Security?
Lake Worth is on a par with Belle Glade. We have whore houses run by illegals.
ReplyDeletePeople with good incomes who pay higher rents live elsewhere.
Where does that 60% rental stat come from? I see it thrown around left and right, and perhaps its accurate, but I wonder.
ReplyDeleteIs it based on homesteading in the City, utility bills?