The Osceola County Board of County Commissioners is using up to $5.5 million in Coronavirus funds to build a minimum of 80 affordable rental units at Cameron Preserve Phase II.
The county previously partnered on Phase 1, which saw the 100-unit affording rental-housing complex off U.S. Highway 192 began leasing units in 2018.
With infrastructure already in place for Phase II, county funds are being used as gap funding to supplement the construction loan.
If the developer is successful in obtaining an award from the Florida Housing Finance Corporation, the county’s commitment will be rescinded or reduced by the amount of funding from the SAIL (State Apartment Incentive Loan) program. In the meantime, the developer can move forward with plans to support the demand rentals – especially for homeless families living within the West 192 Corridor. The units will remain affordable for 50 years.
“I’m glad that we are able to continue our partnership to build out this project and maximize the County’s investment, while delivering on much needed affordable residential rental units that transition people from homelessness and out of hotels,” Commission Chairman Brandon Arrington said. “This approach is a great example of a public-private partnership and makes sense for government, business and our residents.”
Phase 1 of Cameron Preserve was an innovative public-private partnership between Osceola County, the Parramore Construction Company and the Florida Housing Finance Corporation to build affordable rental units and transition families out of hotels and homelessness.
Cameron Preserve includes a community building with computers and printers, as well as classroom space. A number of resident programs such as employment assistance programs, health and wellness services, financial management programs, and on-site food programs are available.
The project’s location near U.S. Highway 192 means transportation, employment opportunities, schools, shopping and recreational facilities are all close by.
Arrington acknowledged Vice Chairwoman Viviana Janer, who brought the idea for the original project to the commission. In 2015 the county purchased the property as part of a “Housing First” strategic initiative that prioritizes providing permanent housing to people.
