• jimshorkey

Seven-Story Affordable Housing Tower Planned For Downtown Orlando

A new seven-story residential tower is in the works for Orlando's Creative Village development. Atlantic Housing Partners LLLP and Banc of America Community Development Corp. plan to build the 190-unit affordable housing complex.

The project located on the southeast corner of Parramore Ave. and Amelia St. may be built in 2024. The construction timeline is difficult to project given the complexities of securing funding for affordable housing projects. The developer is seeking $610,000 in funds from Orlando's Community Redevelopment Agency as it secures other funding to finance the project. The project may cost $36.1 million to build.

Creative Village, located in Orlando's Parramore neighborhood, is expected to create $205 million in economic impact during the next few decades. So far, 957 residential units either have been built or are under construction. The new project has injected new residents downtown, which creates more demand for retail and other services.