Apartment Industry Offers Solutions to Housing Affordability Crisis

Apartment Industry Offers Solutions
to Housing Affordability Crisis

Study Finds Multifamily Developers Willing to Build
Affordable Apartments with Local Government Support

Florida's multifamily rental industry is proactively addressing the state's housing affordability crisis by researching the best ways to encourage development of affordable apartments. 

 

That research shows that most developers of apartment communities would be willing to build affordable housing under the right conditions, according to a report released by the Florida Apartment Association and the Apartment Association of Greater Orlando. The report — called the Housing Affordability Toolkit — is based on a survey of market rate and affordable apartment developers and sheds light on what local governments can do to increase the supply of affordable housing. The report reveals top incentives to drive development are reduced or eliminated impact fees, non-ad valorem property tax discounts, and density bonuses.

 

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