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Broward Growing Affordable Housing Inventory

FORT LAUDERDALE, FL-Elected county officials are asked to approve $11.6 million in financing for 180 new rental apartments in Pembroke Park, FL and $16.6 million for the redevelopment of 318 units in an apartment complex near Hollywood, FL. Fort Lauderdale is 26 miles north of Miami.

By David R. Corder | Updated on April 09, 2001

FORT LAUDERDALE, FL-The inventory of rental apartments for low-income to moderate-income residents in Broward County is about to grow by 498 units.

County commissioners are expected today to approve about $28.2 million in new housing finance bonds to build 180 rental apartments in the city of Pembroke Park and to rehabilitate 318 rental units in the unincorporated community near Hollywood, FL.

The proposed financing would cover nearly 77% of all new affordable multifamily projects budgeted for 2001 by the Housing Finance Authority of Broward County. With a budget of about $43 million, the agency expects to finance the development of about 648 affordable rental apartments this year. A percentage of the budget also finances a first-time homebuyer’s program for qualifying residents.

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