Housing

Housing prices have risen dramatically throughout Palm Beach County over the past several years, and the Delray Beach CRA area is no exception. A successful redevelopment program must plan for the possibility that the resulting rise in property values may make it difficult for low and moderate income residents to afford housing in the redevelopment area.

The Delray Beach CRA has been involved in affordable housing initiatives since its inception, including the following projects:

 

  • In the 1990’s and early 2000’s CRA was a partner in the City’s Renaissance Program, which helped more than 160 low and moderate-income families become first-time homeowners. The CRA acquired lots and provided down payment subsidies to moderate income families. This program was discontinued when lot prices escalated dramatically in the mid-2000’s.

 

  • The CRA maintains an active property acquisition program, buying land and buildings that can be used for the development of affordable housing.

 

  • The CRA worked with the developers of the Atlantic Grove project on West Atlantic Avenue to set aside 10 of the 55 townhouses for moderate income families. While the market rate units sold in the $200,000 range, the set-aside units sold for approximately $135,000. The CRA provided subsidies to assist 7of the affordable unit buyers.

 

  • The CRA, along with the City of Delray Beach and the Delray Beach Housing Authority, took the lead in the establishment of the Delray Beach Community Land Trust (DBCLT). DBCLT housing remains affordable for generations, because the land trust retains ownership of the land, and resale profits are kept at a below-market level. Call the DBCLT at (561) 243-7500 for more information.

 

  • The CRA purchased several lots in the 100 block of SW 14th Avenue Plans for an affordable single-family home subdivision. The homes are being constructed and sold to low/moderate income persons through the Delray Beach Community Land Trust.

 

  • The CRA has provided construction loans for the Atlantic High School Eagle’s Nest program. The program offers high school students hands-on training in the construction industry as the students build single-family homes under the supervision of qualified professionals. The program is a partnership of the Palm Beach County School District, the City and the CRA, with donations of funding, materials, and in-kind services from private firms. Completed homes are sold to eligible low/moderate-income homebuyers.

 

  • The CRA acquired the historic La France Hotel at 140 NW 4th Avenue and converted it into an affordable housing complex for seniors. The CRA also acquired and renovated two apartment buildings on NW 5th Avenue, which will also provide long-term affordable rental and condominium housing.

 

  • The CRA acquired and renovated twenty-five apartments on SW 9th Avenue north of SW 1st Street. Known as Palm Manor, the apartments are managed and maintained by the DBCLT and are rented to income-eligible tenants.

 

  • The CRA is providing a $100,000 grant for the Delray Beach Housing Authority’s Village Square affordable rental complex (144 units), and a $2.7 million loan for the Authority’s Village Square Elderly rental project (84 units).

For affordable rental information contact:

Delray Beach Community Land Trust (DBCLT)

145 SW 12th Ave, Delray Beach, FL 33444 (561) 243-7500
www.delraylandtrust.org

Delray Beach Housing Authority

701 SE 6th Ave #201, Delray Beach, FL 33483 (561) 272-6766
www.dbha.org