Key West is going to hold semi-annual elections later this year for City Commission and Mayor. The candidates are already calling for More Affordable Housing. The problem isn't getting politicians to agree on meeting the demand for affordable housing, but rather deciding on where to build it and how to pay for it.
Construction costs and land costs in Key West are so high and and building code and building restrictions so onerous that the construction of new affordable housing has become nearly impossible. When the city built the new Roosevelt Annex a few years back, it took longer and cost more to build than it should have. Pritim Singh developed an adjacent parcel within half of the time. (Singh developed the Truman Annex and other very successful projects throughout the Keys.)
One of the current topics on the county government level is for the school system to provide affordable housing for new teachers. And there are stories of doctors leaving town because they cannot afford to own a home here either. In fact, those are not stories. They are real life statements.
Key West is not alone in needing to find a solution to its housing dilemma. CLICK HERE to read an article on Affordable Housing For The Upper Middle Class presented in Matrix.
I have an idea for a quick and affordable partial solution to the affordable housing crunch: buy this 5 unit building at 1110 Eaton Street in Key West. It is listed by our office at the affordable price of $997,000. There are three studio units on the main floor and two studios with loft bedrooms on the second and third floors. Four of the five units have been remodeled. And there are three off-street parking spaces.
These units should rent for $1100 per month or more in today's market. Please call me toll free 1-877-778-7092 for more information on this great little housing opportunity or CLICK HERE.
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