Kissimmee seriously considering garage conversion subsidy program
KISSIMMEE, Fla. - Leaders in Kissimmee are seriously considering a new program to increase affordable housing options.
The city code already allows garage apartments, but city leaders may now subsidize garage conversions. Commissioner Angela Eady first presented this idea at a meeting in May. Since then, staff have put together a basic template for what a pilot program could look like.
Homeowners not restricted by HOAs could convert their garage, with financial help from the city, into a small studio apartment and rent it out to low or very-low-income families.
Craig Holland, City of Kissimmee development director, estimated that converting a garage into a 400-square-foot unit would cost about $100,000 in building costs, with city and county fees tacked on. Only residents of Osceola County within the previous year would be eligible for the apartments.
The city said it could be attractive for qualifying homeowners because property values would increase while they could also collect rent. According to the city, the challenge will be finding the right amount for each subsidy.
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"It may take a year or two to kind of tweak the numbers and make it attractive," Holland said. "We could offer everybody $1000, but I guarantee you, nobody will take it."
Rent.com shows the average rate for a studio apartment in Kissimmee is $1,157 per month. That is down 7% from the previous year, while one — and two-bedroom apartments show slight increases year over year.
"I’m very pleased that this commission is taking the problem of housing affordability in Kissimmee very seriously," resident Alex Alemi said. "I like the idea. I like the thought."
The city said several garage apartments that were grandfathered decades ago exist. Staff also said they’ve busted several illegal "granny flats." One was only recently discovered after firefighters responded to a fire at the accessory unit.
Holland told commissioners Wednesday that his team will present a more comprehensive list of program options in roughly 30 days. The commission did not vote on anything at the meeting.