The City of Orlando’s Community Redevelopment Agency just broke ground on eight new homes in the Parramore neighborhood, just west of the Central Business District.
The project is part of an initiative launched in 2018 to help Parramore residents purchase homes in the district. To date, another eight homes have already been built.
The 1,500 SF homes feature three bedrooms and two-and-a-half bathrooms, as well as energy-efficient appliances to help keep utility costs low and affordable.
Orlando residents interesting in purchasing one of the homes can apply for the CRA Down Payment Assistance Program which provides financial assistance for qualified buyers; i.e., you must not have owned a home within three years of the purchase, you must complete a home buyer education course via a HUD-approved housing agency, and you must be able to obtain a loan commitment for a first mortgage with a fixed rate from a City of Orlando-certified lender for a minimum of $125,000.