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The uptick in housing costs has widened the affordability gap in South Florida in recent years. Bluenest Development is on a mission to solve that gap.
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Federal spending cuts are already anticipated that would affect Section 8 and other safety net-type federal programs.
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The changes introduced in November signal a major shift from a focus on permanent housing to more temporary housing solutions.
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The cost of extending services to far-flung land can erase up-front savings.
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Landlords started receiving the payments over the weekend, after the disbursements were delayed by the longest federal government shutdown in history.
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The bills could become law in weeks due to Gov. Gavin Newsom proposing their passage as part of the state budget.
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The initial phase of the redevelopment calls for 148 affordable senior housing units.
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Flatlining rents are also part of the new normal for apartment owners.
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Two decades after Katrina, the Crescent City's CRE revival never arrived. Federal aid and bold plans faded, leaving stalled growth and rising climate risks.
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There had been local pushback against the proposed height of the towers.
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