Gorman & Company was founded in 1984 to develop, syndicate, and manage multifamily housing properties. Gorman & Company has become one of the largest and most respected multifamily development firms in the area. The company has been ranked among the Top 10 Affordable Housing Developers by Affordable Housing Finance. With over 120 community revitalization projects in the portfolio,
Gorman & Company has experience developing some of the nation’s highest quality affordable housing and neighborhood revitalization projects. They work closely with local governments and municipal groups to help cities meet their development, planning, economic and social goals6
In discussion with Allan Bowditch, Chief Communications Officer of the ECCL, a company spokesperson, stated, “In order to address the affordable housing issues out there, we have employed a variety of methods depending on what is appropriate for the community in which we are working.
We utilize 4% and 9% state tax credits to develop affordable units and develop workforce housing units and mixed-income mixed-use projects. We utilize resources that are available from state and federal funds to local sources such as dedicated sales tax revenue funds, CDBG, TIF, impact fee waivers, land donations, and others.”
Another option is Inclusionary housing programs, which are local policies that tap the economic gains from rising real estate values to create affordable housing for lower/middle income. An inclusionary housing program might require developers to sell or rent 10 to 30 percent of new residential units to those who would not otherwise afford to live there7
. A bill initiated in the Senate addresses this issue of assigning about 10-20% of new developments as affordable housing. Senator Bradley is championing the initiative, and it appears it is supported, which could help it pass this year.
There is a Section 8 program that should be investigated. (Section 8 relates to both affordable and workforce housing.
) It is a department of Housing and Urban Development (HUD) program that allocates vouchers through the local housing authority and whatever market that project is in or where the tenant may want to live. The Section 8 program provides a voucher to a family in the same way that most housing authorities issue vouchers. They have waiting lists of families needing housing help through government programs.
Esposito, SWFL Inc., suggests a clear need for more market-rate solutions to assist those workers discussed earlier. Some options are to: –
- Allow for more density
- Remove restrictions like building heights
- Streamline the permitting and approval process to reduce the time it takes to build and thus reduce the project’s cost
- Allow for creative solutions like horizontal apartments and add things like accessory dwelling units
The issue she points out is one of supply and demand. “We need to encourage more supply than there is a demand to drive prices down.”
Some other interesting creative options which could be considered in some parts of Florida include
- “Boxabl” from Casita. (a 375 sq. ft accessory dwelling unit (ADU) delivered with a full-size bathroom, kitchen, appliances, and tall ceilings with big windows for under $50k)
- 3D printed houses from ICON. https://www.iconbuild.com/projects
- Renovating old hotels and motels to create more homes
- Renovating indoor retail spaces and malls into mixed-use
Future urban planning should consider creating walkable neighborhoods, reducing cars in neighborhoods, and adding commercial space into residential living.
Michela Zonta, a senior policy analyst for Housing and Consumer Finance Policy at the Center for American Progress, makes a similar point to earlier concerns. Regional and local economies cannot function without the ability to house lower affordably- and middle-income workers who are essential to the infrastructure to ensure a rapid economic recovery after the COVID-19 pandemic and continued economic improvement.
The ECCL favors initiatives that aim to overcome the difficulties faced by many who support our growing infrastructure and the amenities that we enjoy. Failure to address this issue will affect our quality of life as we know it in the longer term.