With Lakeland naming affordable housing its top priority for 2022 during 2021’s budget retreat, it’s no surprise that we’re seeing new batches of affordable housing developments coming to fruition in 2022.
Last week, Lakeland leveraged $5.464 million in city, state + federal funding and incentives to secure $127 million in private investment for affordable and workforce housing projects.
Leveraged funds accomplished the following:
- $2 million — made land available within its infill program, which provides city + CRA-owned plots of land to developers with the intent to help meet its affordable housing goals.
- $1.5 million — waived impact fees for developers
- $900,000 — paid by state and federal funds
- $500,000 — paid by city general funds
- The remaining $564,000 balance was covered by Community Redevelopment Agency contributions.
Currently, the city has 581 multi-family units either under construction or completed. So, what’s next? According to Lakeland Planning and Housing Director Teresa Maio, the following developments are set for 2022:
- Griffin Lofts, Griffin Road | 76 units with 28 at 80% or lower, 36 at 50% or lower, and 12 at 30% or lower.
- Twin Lakes III, Lake Beulah Drive | 84 units with 75 at 60% or lower and nine at 50% or lower.
- Killian Crossing, Westgate Avenue | 202 units
- Arbor Manor, Pipkin Creek Road | 100 units
In addition to named developments, some projects in the earlier stages of planning are also on the books. One project has already been planned for 160 affordable units, with another project (which is still in stages of negotiations) for 180 units. Finally, two workforce housing projects, which would include 202 units, are planned but have not yet secured funding.