Daytona economical housing: Developer programs 100-condominium elaborate

DAYTONA Beach front — An Orlando space developer who attended a meeting on affordable housing here in 2019 plans to split ground this fall on a venture to deal with that expanding need.

The prepared Brentwood Village Apartments project will offer just about 100 economical operate drive housing units that are anticipated to be shift-in ready by fall 2022. The five-acre growth website is on the southeast corner of Derbyshire Road and Brentwood Generate, a person block north of Mason Avenue.

“Our objective is to split ground this fall with the very first inhabitants shifting in a year later on,” mentioned Steve Smith, president of Provident Housing Alternatives Inc. on Friday.

Smith stated his corporation done its $440,000 invest in of the advancement web-site on Dec. 30, 2020.

The whole estimated expense of the challenge is $20 million. He reported he hopes to offset his expenditures by obtaining a Sadowski Inexpensive Housing Act grant from the Florida Housing Finance Corporation as effectively as tax credits from the federal governing administration.

This is an aerial view of the site where Provident Housing Solutions Inc. plans to develop a 100-unit affordable housing apartment complex on the southeast corner of Derbyshire Road and Brentwood Drive, one block north of Mason Avenue in Daytona Beach.

How substantially for the monthly hire?

The grassy progress site is specifically north of the aging retail heart on Mason that features the Placita Grocery store, Hampton’s Restaurant, Western Union and Wells Fargo.

Smith reported his proposed venture will consist of four 3-story buildings, just about every with 24 flats that would incorporate 1-, 2- and 3-bed room models, as properly as a community heart that would give soon after-college and summertime packages for children and computer system and work assistance products and services for grownups. Other amenities consist of a swimming pool and a laundry space.

Month-to-month rental fees for the residences would start out as small as $390 for a just one-bed room unit, up to $860 for a a few-bedroom unit. 

The five-acre development site for an affordable housing project called "Brentwood Village Apartments." The project site can be seen on the right on Nov. 2, 2020. The site is on the southeast corner of Derbyshire Road and Brentwood Drive, one block north of Mason Avenue, in Daytona Beach.

The precise rental fees will be identified centered on once-a-year domestic cash flow, Smith claimed. “The apartments would be for households with annual incomes of up to $47,000 a calendar year,” he claimed.

The regular every month price tag to lease an condominium in Daytona Beach as of November ranges from $800 for a studio to $1,603 for a 3-bedroom device, according to the website Apartmentguide.com.

The planned Brentwood Village Flats will be developed in the 32117 ZIP code area where by the median once-a-year residence money is $27,106, a person of the cheapest in the metropolis, according to the web-site unitedstateszipcodes.org.

Apartments ‘needed all around Daytona Beach’

Daytona Seashore Mayor Derrick Henry stated the project is “some thing that’s required all about Daytona Beach and Volusia County,” specially with housing charges continuing to rise.

“The average resident are unable to afford a new home and in the Derbyshire area, the average yearly domestic money is considerably less than $30,000. This is the type of challenge we would like to see appear to fruition,” Henry stated. “Inexpensive workforce housing is a person of my top rated priorities.”