Groundbreaking for new Orlando apartment complex offering 'affordable' options
ORLANDO, Fla. - Orange County is set to receive additional housing options with the groundbreaking of a new complex on the west side of Interstate 4, situated along W. Colonial Drive west of John Young Parkway.
Orlando Mayor Buddy Dyer highlighted the pressing need for affordable housing in Central Florida during the Tuesday groundbreaking ceremony.
"Affordable housing is our biggest need in Central Florida. We have 1,000 people moving to Central Florida every week," Mayor Dyer emphasized. "We need housing at every level. We’re in a housing deficit, but especially at the lower ends of the scale."
The groundbreaking marked the initiation of construction for "52 at Park" apartments, a planned 300-unit apartment complex designed to address the housing shortage in the area. The project aligns with the city's commitment to ensuring residents have access to safe and affordable housing.
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To qualify for residency in the community, a single-person household must earn approximately $40,000 annually, while a four-person household should have an income of about $60,000 per year.
"We want residents to be really proud to call this place home," remarked Jordan Richter, Vice President and Project Partner of Lincoln Avenue Communities. "Our rents for a one-bedroom will be around $930, going up to approximately $1,400 for a four-bedroom community."
The complex will be solar-powered, enhancing affordability by offering residents the potential for minimal to zero electricity bills each month.
Developers anticipate having several buildings in the complex ready for move-in by the summer of 2025, with the entire project scheduled for completion by the end of that year. This initiative aims to alleviate the housing shortage and provide a sustainable living option for Orange County residents.