City Continues Development of Affordable Housing With Private Partners
A Series of Successes Has Generated Continued Interest
Last updated 9/15/2022 at 10:59am
The Lake Wales Community Redevelopment Agency (CRA) is celebrating the groundbreaking of two new houses which will soon be built next to one another on A Street in the Northwest Neighborhood. This affordable housing initiative marks the third development partnership between the City, Keystone Challenge Fund, and SouthState Bank.
Earlier this year, two new houses and two refurbished houses were completed on B Street. Those homes were sold as a result of the partnerships. The CRA continues to seek opportunities for purchasing lots which can be developed and returned to the tax rolls. The new taxes generated by the improvements flow generally to the CRA, allowing further re-investment.
The City has partnered with Keystone Challenge Fund, a non-profit organization dedicated to providing affordable housing to low-to-moderate-income home buyers. SouthState Bank is providing down payment assistance to qualified homebuyers.
"Keystone lit the match that ignited the spark, and now the private sector is building more houses with incentives from the City's affordable housing program," said CRA Project manager Darrell Starting. "Two houses are complete and eight additional houses are already in development."
Homebuyers interested in qualifying for the affordable housing down payment assistance program are encouraged to contact Hands of Central Florida at (863) 682-1025, or visit cflhands.org.