WorldDisney and Universal plan to build affordable housing in...

Disney and Universal plan to build affordable housing in Florida : NPR


A rendering provided by Universal Parks & Resorts shows its planned development in Orange County, Fla., that includes affordable housing.

Universal Parks & Resorts


hide caption

toggle caption

Universal Parks & Resorts


A rendering provided by Universal Parks & Resorts shows its planned development in Orange County, Fla., that includes affordable housing.

Universal Parks & Resorts

Anyone looking for affordable housing in central or southern Florida is in for a wild ride — and that’s why two Florida theme parks are pledging to devote around 100 acres of land to ease the housing crunch.

In places like Orlando and Tampa, rent has been rising faster than nearly every other part of the U.S. The average rent in Orlando jumped by 21% in just one year, from 2020 to 2021.

Walt Disney World plans to build more than 1,300 housing units on nearly 80 acres of land in Orange County (which includes Orlando), but it adds that the plan is still in the early stages and needs regulatory approvals.

“The development will offer residents a variety of home choices that are affordable and attainable,” said Rena Langley, Walt Disney World’s senior vice president for communications and public affairs company said. The new units will be close to schools and Disney’s new Flamingo Crossings retail and dining complex, she added.

Universal Parks & Resorts says it has “pledged 20 acres of prime land in the heart of Orlando’s tourist corridor to be used for 1,000 units of affordable/mixed-income housing.”

Universal’s plan lists a number of amenities, from tuition-free preschool, community gardens and pools to on-site medical offices and a transportation center.

Like Disney’s plan, the Universal proposal still needs the county government’s approval. Both companies are working with development companies on their projects.

Walt Disney World and Universal Parks & Resorts are devoting land to affordable housing developments, in hopes of easing central Florida’s housing crisis. Here, visitors drive past a sign welcoming them to Walt Disney World in the summer of 2020.

Gregg Newton/AFP via Getty Images


hide caption

toggle caption

Gregg Newton/AFP via Getty Images


Walt Disney World and Universal Parks & Resorts are devoting land to affordable housing developments, in hopes of easing central Florida’s housing crisis. Here, visitors drive past a sign welcoming them to Walt Disney World in the summer of 2020.

Gregg Newton/AFP via Getty Images

The nation’s affordable housing crisis has been particularly acute in central and southern Florida in recent years, and the state’s housing supply hasn’t been keeping up with its population growth. The pandemic has made the situation worse, as spikes in home prices and rent have far outpaced any gains in income.

“We’ve seen a bottleneck in housing supply and a rise in renters over the last decade — which has been really quite pronounced — and a corresponding decline in homeownership,” Florida housing market expert Andrew Ross told member station WLRN last November. “The stabilizing factors in the housing market for decades have become a little bit unmoored and unanswered.”



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

UK’s earliest hand axes were made by ancient humans 560,000 years ago

Stone tools found in Fordwich in Canterbury may have been made by an early human called Homo heidelbergensis Original...

Wellness Continues To Trend In New Residential Design Survey

Barns are the inspiration, and sometimes repurposed structures, for...

Why Lost Star Matthew Fox Walked Away From Hollywood – And Is Coming Back!

With Lost rewatches happening all the time on streaming services, it’s easy to forget the show ended 12 whole...

Twitter deal setbacks, Dogecoin hype, and a

Even by Elon Musk’s exaggerated definition of weird, the past 24 hours or so have been more than...

Must Read

Some polar bears in Greenland survive on surprisingly little sea ice

“Pihoqahiak” means “ever-wandering one,” and is an Inuit...

Dexter Fletcher Is Certain Sherlock Holmes 3 Will Be Made

Speaking with Collider's Christina Radish, Fletcher was pretty...
- Advertisement -

You might also likeRELATED
Recommended to you