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Low-income housing dropped from Bight project
BY MANDY BOLEN
keysnews.com
KEY WEST -- A planned
development project that could mean 38 affordable housing units and 19
luxury condominiums at the site of an old Keys Energy Services steam
plant at Key West Bight had to be changed when the company slated to
build the 38 apartments backed out of the project, blaming the high cost
of construction.
Local developer and
business owner Ed Swift told the Utility Board, which oversees Keys
Energy and its properties, that the Carlisle Group informed him at the
end of September that they would not be proceeding with the project,
which would have provided apartments for low-income and very-low-income
tenants.
The Coconut
Grove-based company was under contract with Swift's Old Town Key West
Development Company and has been involved in affordable housing projects
throughout the state of Florida using a tax credit financing program to
build the properties.
Without the tax credit
subsidies, the building project for very low- and low-income tenants can
be economically unfeasible.
The Carlisle Group
also is building 102 affordable housing units on Stock Island at the
site of an old dog track.
Their withdrawal from
the steam plant project has not affected the Stock Island development
called Meridian West, Swift said.
Swift told the Utility
Board Thursday night that he still plans to build the 38 affordable
units at the steam plant, but they will have to be for median-income
tenants. But he emphasized that the construction of those units hinges
entirely on his ability to build and sell the 19 luxury condos, which
will cost about $2 million.
"We have no subsidy,
but still have to build the affordable housing," he said Friday. "But
now we're working under the city's ordinance, which calls for
median-income housing.
"I was afraid the
board would be disappointed that the apartments will be used for median
income residents, but they were fine," Swift said, adding that teachers,
police officers and Keys Energy employees will now qualify for the new
apartments, whereas they would have made too much money if the
apartments were for very low- and low-income renters.
Keys Energy
spokeswoman Lynne Tejeda said the board's reaction to Swift's
presentation and the required changes was positive.
"They understood that
without the Carlisle Group, low and very-low income housing would be
impossible," she said.
While the majority of
the affordable apartments will be two-bedroom, two-bath units, the 19
luxury condominiums will be "drop-dead spectacular," Swift said,
describing rooftop gardens and private rooftop swimming pools.
mbolen@keysnews.com |
