Originally the project at 310 North Dixie was owned by New Urban Communities and was built with government assistance in the way of grants such as a state grant it got for $1.65 million and small interest mortgage rates. In order to qualify for the original project, buyers had to make 140% of the county's mean income or $95,060 for a family of four. It was workforce housing but it never worked out. Timing was bad; the economy tanked.
Even the Lake Worth CRA got into the act as the development is in the CRA District. They gave the developer $100,000 for buyer qualifying assistance and to incorporate some green features and get rid of some blight. We were all giddy with green back in those days. This project is in the CRA TIF district. Any increased tax revenues collected as a result of an increase in property values then go into the TIF fund and can be used by them for a wide range of purposes within the TIF to promote redevelopment.
The new owner says his project is NOT affordable/workforce housing and he will be selling at market value and anyone making 80% of the mean should qualify. Originally one bedrooms were going for $102,650 and now will be $140,000 for a "Flat." The two bedroom townhouses original asking price was $131,650 and now will be $225,000, substantially higher than when New Urban owned them.
There were concerns from a few commissioners some of which were the a/c units and where they were placed, taking out the community garden and finally much discussion on it being a gated development.
I have always liked gated communities. I know many people in Lake Worth who are not keen on them but I have never found one that was not well kept. They certainly give the perception of being safer. Smash and grab and vandalism do go down in gated communities. With this development right on Dixie Highway and situated in a crime area as well as in an area where anyone can walk onto the property, a gated development would make a prospective buyer feel safer.
It passed on a 4/0 vote. The only thing that was offensive to me was the lecture from the Vice Mayor towards Commissioner McVoy for his questions and concerns. Everyone has the right to ask and discuss things that come before them in order to serve the greater good. I'm rather certain when it came before the Planning & Zoning Board that there were plenty of questions with no board member sticking in the political shiv toward another member.
