Miramar to seek grant for workforce housing

MIRAMAR, Nov 25, 2007 (South Florida Sun-Sentinel - McClatchy-Tribune Information Services via COMTEX) -- TWBC | charts | news | PowerRating -- The city plans to apply for a $5 million grant to create workforce housing that will sell for less than the other condos at its Town Center complex near Red and Hiatus roads.

City officials say workforce housing complements the project.

"Because this is a newer development with urban principles, it's conducive to people who are living and working within walking distance," said Gus Zambrano, the city's director of economic development and revitalization.

The Town Center is a planned 54-acre campus of condos, townhouses, an 800-seat cultural arts center, library and stores. It's also home to City Hall.

Preliminary plans call for 133 townhouses and 347 condominiums, some of which will sit above office space. Initially, workforce housing was not a component of the project.

But "the market has slowed down significantly," Zambrano said, and the complex is feeling the pinch.

Miramar could learn as early as this spring if it will get the funds, which would help subsidize the cost of 50 condominiums.

The cost of the two- and three-bedroom condos is estimated at between $350,000 and $400,000, but the subsidy would reduce that by about $125,000, city staff said.

"Everybody wants the Town Center to be successful, which means all the pieces have to be successful," Zambrano said. "This would be sort of a catalyst."

Although the city is not responsible for the residential portion of the complex, it is teaming with developer Rock-Kim Miramar LLC to apply for the state funding. Private developers purchased 37 acres of the campus, but the city has a lot at stake in the project.

Under the grant program, cities are supposed to contribute to the project. Miramar is looking at chipping in about $1.25 million, which would include county funding and other grant sources, Zambrano said.

The city plans to waive all construction-related costs, about $250,000, for the 50 workforce condos.

To obtain these types of funds, cities have to agree the units will remain affordable for at least 30 years. City commissioners will vote on Wednesday whether to create a housing trust board to oversee affordable and workforce housing initiatives.

"This will meet the need that the city has identified," Zambrano said.

Georgia East can be reached at geast@sun-sentinel.com or 954-385-7921.

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