New Affordable Housing Comes to Marathon

The beginning of September saw the ground breaking for a new development of affordable housing in Marathon along 73rd Street. There are 26 units being built currently. These are expected to be completed in January 2016. Another 25 units are set to be built across the street after the start of the new year. Keys Affordable Development was awarded the contract to build these homes specifically for lower-income families in need. While the houses will be limited as to who can move into them, there is a demand and true need for affordable housing in The Keys. This is one great project designed to help those families.

The new homes will have one, two or three bedrooms and feature not only tile floors and granite countertops, but also energy-efficient appliances, giving tenants another way to save money once they move in. We all know that when someone feels good about their home, they feel good about their community. This project is a way for the community to work together to support each other. The rent on these units is set to be between $400- $1,100 each month, depending on the qualifications of the renters. There is a process to complete to receive one of these units, and so far the demand has been high, showcasing there is a definite need for this type of housing in the Keys. For better or worse, there is currently a waiting list for many affordable housing options. You can learn more, or get added to a list through the Monroe County website.

While the new homes being built in Marathon are geared for renters, there are also programs available for families needing assistance in buying their own homes. From federal, to state and private and public programs, if you are ready to buy a home, it could be worth it to review what types of financial assistance you may be qualified for. The State of Florida Housing Authority has a wonderful list of resources worth checking out. There are federal programs available from HUD and Fannie Mae or Freddie Mac which can help you get into a home of your own. On a local level, the Florida State Housing Finance Corporation, a division of the housing authority, provides mortgage and down-payment assistance programs across the state, including Monroe County.

The Florida Keys are an amazing place to live with a relaxing lifestyle and plenty of things to do year round. If you are ready to buy a home, there are many options available as well. If you’re ready to sell or buy a home in the Key West area, please contact me, Jimmy Lane, for all of your real estate needs.





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