We’ve had a couple of readers write in to ask why they are clearing the land just west of I-4 between Concord and the Crowne Plaza Hotel.
The property is being cleared to make way for the new Lexington Court complex at 315 W Concord St. [GMap].
We told you about the plans for the 109 unit, 5-story building back in January.
It will offer 100% affordable units with an interior parking garage as well as residential amenities.
While retail was originally planned it’s no longer part of the plan other than to allow for a phase two to the west of the building that would include commercial space.
The property is located in an area that has not seen much recent development but is blocks away from the planned Creative Village project.
Here’s a look at the floor plans and renderings of the building:
Part of being affordable through its funding source (FHFC) is that they have to accept any Section 8 voucher holders that apply as residents. Otherwise the rents are restricted to those making 60% AMI or less for 80% of the total units and about 35% AMI or less for the remaining units.
Usually it is based on a percentage of income that the expect people to spend on their housing and then they look at the areas median household income.
Usually it is based on a percentage of income that the expect people to spend on their housing and then they look at the areas median household income.
Don’t believe any is section 8.
OOoohhhh… a new batch of cheap, wooden, apartments on prime downtown real estate!
what % is section 8 (if any) ?
Thank you 🙂
Wawa
What the heck does 100% affordable mean- what’s. Affordable to some isn’t for others. Unless u mean it’s section 8 housing
Lisa Dennis
What are they building on OBT and Colonial dr?
What exactly does “100% affordable units” mean?
Everything is affordable to somebody.
Niiice!