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WHAT:
Resident Johnny Ayala feels fortunate to have found the Palm Gardens Orlando Apartments. He first saw the sign on Colonial Drive, while looking for a place to live that he could afford on his social security income. Similarly, resident Veera Fernandez has seen the transformation of the Palm Gardens property firsthand. She’s lived there since the property was a blighted hotel and couldn’t be happier with the improvements she’s seen in the last year under the new ownership and with the city’s investment.
On Tuesday, October 31, 2023, Ayala and Fernandez will welcome Orlando Mayor Buddy Dyer, District 3 City Commissioner Robert F. Stuart, One Stop Housing, LLC and Synovus Bank to their neighborhood to tour the ongoing renovations at Palm Gardens Orlando. Of the 150 units at Palm Gardens, 149 one-bedroom units will be reserved for residents with incomes at or less than 80% of the Area Median Income (AMI) and one unit will be reserved for live-in property management. Fifteen of the units will be designated as permanent supportive housing, which will combine affordable housing assistance with support services coordinated by Homeless Services Network to address the needs of those experiencing homelessness.
As affordable housing continues to be one of the most complex challenges facing cities today, the City of Orlando remains committed to ensuring that every person, regardless of economic status, has access to quality housing that is safe and affordable and continues to work to develop short and long-term strategies to expand the city's housing inventory for residents at all income levels.
This project is one of the first to be approved for funding through the city’s Accelerate Orlando initiative, which is leveraging $58 million in American Rescue Plan Act (ARPA) federal funds to further the city’s efforts in tackling homelessness and affordable housing. As part of the funding agreement, Palm Gardens will have a 30-year affordability period starting from the date all completed units have been leased. Annually, any rent increases will be restricted to the annual rates set by the Florida Housing Finance Corporation, based on the income limits established by the U.S. Department of Housing and Urban Development (HUD), to ensure continued affordability.
WHEN:
Tuesday, October 31, 2023
2 p.m.
WHERE:
Palm Gardens Orlando Apartments
929 West Colonial Drive
WHO:
Orlando Mayor Buddy Dyer
District 3 City Commissioner Robert F. Stuart
Mark Vengroff, One Stop Housing, LLC
Kevin Gillen, Synovus Bank
Johnny Ayala, Resident
Veera Fernandez, Resident
MEDIA INFORMATION:
Parking will be reserved in the parking lot of the property at 929 West Colonial Drive. Since this is an active construction site, media must wear closed toed, flat shoes.
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