Florida’s $711M Affordable Housing Bill Becomes Law

[Altoic]

Florida’s $711M affordable housing bill becomes law
https://therealdeal.com/miami/2023/0...l-becomes-law/

DeSantis signed Senate Bill 102, known as the Live Local Act, on Wednesday, days after the legislation passed in the Florida House of Representatives. In addition to setting aside funds for affordable housing, the law will supersede local governments’ zoning, density and height requirements for affordable housing in areas zoned for commercial or mixed-use development. It also strips local municipalities’ ability to enact rent control, which was previously only possible during a housing emergency.

Local governments would be required to allow multifamily or mixed-use residential projects that set aside at least 40 percent of the residential component for affordable housing for a period of at least 30 years. For projects allocating at least 65 percent of the square footage to residential, a county would not be able to restrict the height of a proposed development below what’s currently allowed within one mile of the planned project.

https://www.connectcre.com/stories/d...kage-into-law/

$259 million to provide low interest loans to developers building workforce housing, with .$150 million of these funds recurring for certain specified uses.
$252 million to provide local governments with incentives to build partnerships with developers who are preserving available housing or producing more housing.
$100 million for the Florida Hometown Heroes Housing Program to provide down payment and closing cost assistance to first-time home buyers with a focus on law enforcement, first responders, teachers, active-duty military, and military veterans.
$100 million to implement a loan program to alleviate inflation-related cost increases for FHFC-approved housing projects

https://www.orlandosentinel.com/poli...rbq-story.html

Passidomo said the law “will make sure Floridians can live close to good jobs, schools, hospitals, and other critical centers of our communities that fit comfortably in their household budgets, no matter the stage of life or income.”
The bill passed the House 103-6 on Friday, having won unanimous approval in the Senate earlier in the month.
Cynthia Laurent, a housing justice campaigner with nonprofit Florida Rising, agreed the bill doesn’t meet the needs of service workers and other low-wage employees in the state.

“It leaves out a large swath of our population that keeps our economy going,” Laurent said.

**This law will bring changes especially to commercial and industrial zones, while also intending to transform vacant strip malls and commercial developments into housing.
However, this law will strip some rights away from local legislation, which will cause controversy.

[chris08876]

Good, more of this is needed, across the country. Step in the right direction. Local governments have been the cancer when it comes to building units that are very much needed. More housing... good supply to not have ridiculous prices, and many folks benefit.

[edale]

This feels oddly progressive for Florida. Surprised DeSantis signed it.

[urbanadvocate]

Originally Posted by edale

This feels oddly progressive for Florida. Surprised DeSantis signed it.

Not really that out of character for him. At the root of this it is removing power locally and consolidating it under his dictatorship and its a move towards eliminating certain zoning. In theory that is good, in practice it is going to be circus of development. Call me skeptical but this feels a bit of a scheme in favor of developers in the guise of helping those in need.

[bossabreezes]

This isn't a ''progressive'' law. Progressive ideology tends to restrict more and add more government control over everything. This is a libertarian leaning law, removing red tape and removing government control over things.

Very good news btw, Florida has a housing issue.

[Toasty Joe]

Originally Posted by bossabreezes

This isn't a ''progressive'' law. Progressive ideology tends to restrict more and add more government control over everything. This is a libertarian leaning law, removing red tape and removing government control over things.

Very good news btw, Florida has a housing issue.

Most progressives I know are YIMBYs who support fewer restrictions on housing in order to tackle the rising cost of home ownership for average Americans. One of the few areas progressives and conservatives should align (in theory).

There are absolutely people (i.e. wealthy homeowners in the Bay Area) who claim to be progressive but oppose density. They may be progressive on some issues like LGBTQ rights, but I wouldn't call them progressives.

[twinpeaks]

Originally Posted by bossabreezes

This isn't a ''progressive'' law. Progressive ideology tends to restrict more and add more government control over everything. This is a libertarian leaning law, removing red tape and removing government control over things.

Very good news btw, Florida has a housing issue.

This is far from libertarian. This is government stepping in to provide money and incentives, and control over local laws. This is socialism. Very good news btw, Florida has a housing issue.

[mhays]

A step in the right direction it sounds.

The dollars seem like a drop in the bucket by my region's standards, but opening up the land use code could be big.

[TWAK]

Originally Posted by bossabreezes

This isn't a ''progressive'' law. Progressive ideology tends to restrict more and add more government control over everything. This is a libertarian leaning law, removing red tape and removing government control over things.

Very good news btw, Florida has a housing issue.

It is a progressive law and adds more state government control lol. Libertarian would be like Houston or something, where you can just zone whatever the heck you want or have no entity deciding.
CA has done (or tried to do) similar things since local governments can't be trusted with low-income housing. Doesn't mean it's a bad thing, but let's not be so incorrect with what it really is. I think the new law for CA allows the state to punish localities for not meeting housing needs and gives their funds to other cities. The tip to developers is the rent control stuff in there.

[Vlajos]

Originally Posted by TWAK

It is a progressive law and adds more state government control lol. Libertarian would be like Houston or something, where you can just zone whatever the heck you want or have no entity deciding.
CA has done (or tried to do) similar things since local governments can't be trusted with low-income housing. Doesn't mean it's a bad thing, but let's not be so incorrect with what it really is. I think the new law for CA allows the state to punish localities for not meeting housing needs and gives their funds to other cities. The tip to developers is the rent control stuff in there.

I'm working on an affordable rental housing deal right now in CA. The cost per unit is $1,000,000. Whatever CA is doing it's not efficient. This deal is 140 units using federal tax credits and nearly $70 million in state and local subsidy.

Amyway the Florida law sounds pretty reasonable.

[TWAK]

Originally Posted by Vlajos

I'm working on an affordable rental housing deal right now in CA. The cost per unit is $1,000,000. Whatever CA is doing it's not efficient. This deal is 140 units using federal tax credits and nearly $70 million in state and local subsidy.

Depends on where it is and what metro. One can't expect things to be cheap in the Bay Area or LA as things just cost more, especially real estate. I don't think the new law will do anything for the cost of these projects, besides being able to snatch funding away from another municipality if they screw up.
If it was in my area (poorest county in CA) then it wouldn't be as much.

[wanderer34]

After reading some of the posts on this thread, it seems that this law is a good step in the right direction for FL! It'a another win for win and another win for DeSantis. This should force FL to accept higher density in cities such as Miami, Miami Beach, Hialeah, Ft Lauderdale, & WPB, as well as you more spread out cities like Tampa, Orlando, Jacksonville, Gainesville, & Tallahassee.

I've seen spread out cities like Cape Coral and Port St Lucie exceed cities like Ft Myers & Ft Lauderdale, and I'd love to see more density happen in FL cities. Build higher and taller, as well as build more multifamily units. Miami is only 36 sq. mi., and this will help boost Miami's (and even Miami Beach's) population to new heights.

[UrbanImpact]

Lets see if developers choose to build workforce housing now when incentivized. I'm sure it won't happen in prime areas (like Brickell, Wynwood, Coconut Grove, Aventura, any beach, downtown Fort Lauderdale, Flagler Village, Boca Raton, West Palm Beach, etc. here in S Florida), but, more prime adjacent areas.

[Kngkyle]

Progressives are definitely split between believing developers are the devil and advocating against anything that isn't 100% affordable to NIMBYs are the devil and prioritizing maximum density.

This FL law looks to be a step in the right direction. Too bad DeSantis doesn't run on policies like this instead of culture war bullshit.

[UrbanImpact]

Originally Posted by Kngkyle

Progressives are definitely split between believing developers are the devil and advocating against anything that isn't 100% affordable to NIMBYs are the devil and prioritizing maximum density.

This FL law looks to be a step in the right direction. Too bad DeSantis doesn't run on policies like this instead of culture war bullshit.

Perhaps he's trying to appease the people who wouldn't normally vote for him, the people who need these policies the most that live in unadorable urban parts of the state.

[dave8721]

I'm not sure any of it will help though. We already have basically all these rules locally in South Florida anyway. Probably the most liberal zoning in the US when it comes to allowing height and density basically anywhere...and we are still the most unaffordable market in the US. As long as basically all new housing is snatched up by corporations to rent out as temporary rentals or Airbnb's. If someone can make $300 a night renting out their unit on a nightly basis it makes no sense to do anything else with it. Florida has already banned counties and cities trying to crack down on the practice in one of DeSantis' previous moves at checking local power.

[Altoic]

Florida’s affordable housing law could “change the look of coastal cities”
https://therealdeal.com/miami/2023/0...oastal-cities/

The law goes into effect July 1. Developers are expected to apply for incentives this summer, and receive funds next year.

Jake Morrow, who leads Miami-based Integra Investments’ affordable and workforce housing division, Interurban, pointed to the law’s ad valorem tax exemptions. The property tax breaks, which existed already for senior affordable housing, will provide a stimulus for affordable and workforce housing that meet specific criteria.

“Due to this legislation, we’re very actively taking a second look at several new affordable housing developments we previously deemed infeasible, especially in South Florida,” Morrow said. Interurban recently completed 670 affordable and workforce housing units in the tri-county region.
Developers are already looking at sites to build mixed-income projects, with affordable or workforce housing on the lower floors, and market-rate and luxury above it, said attorney Keith Poliakoff of Fort Lauderdale-based Government Law Group.

“I meet with potential and existing clients almost daily who are under contract on commercial properties, who would not be under contract if not for this law,” he said, citing pending deals in Sunny Isles Beach, Fort Lauderdale and Hollywood that have popped up in the last week.

Developers are already searching for properties, and it only took a week for pending deals.