New Affordable Housing Program in Port St Lucie
Channel: CBS 12 News - WPEC
Date: 20/04/2024

The population boom in Port St. Lucie is causing housing prices to skyrocket. Many developments are pricing out in the mid-six figures, and all the new homes under construction are expected to have similar price tags.

The city is now working on a pilot program to address that, giving families access to affordable housing.

Using the roughly $400,000 left over from the American Rescue Plan, the city is doubling their down payment assistance from about $50,000 to $100,000 for new homebuyers, looking to join the city's community land trust program.

“Housing prices have continued to climb faster than incomes have, and so this gives people a realistic chance to become homeowners,” said Carmen Capezzuto, the Director of Neighborhood Services for the city.

Through the program, qualified buyers with annual salaries slightly beneath $70,000 would be able to pick a house within reach on the open market, and then turn to the city for down payment assistance of up to $100,000 to close the deal.

Read more: https://cbs12.com/news/local/affordable-housing-pilot-program-coming-to-port-st-lucie#

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