Addressing Broward County’s Affordable & Workforce Housing Needs: Recent Developments

1. Introduction: Broward County’s Housing Challenge

Broward County, home to nearly 2 million people and expected to grow past 2.2 million by 2050, faces significant housing challenges. Making sure there are enough affordable places to live is a major ongoing issue.

This report looks at specific recent efforts by the Broward County Housing Authority (BCHA) and private developers to tackle these challenges, based on articles from Housing Finance and Multi-Housing News. We’ll examine BCHA’s affordable housing projects and a large workforce housing development called The Era in Fort Lauderdale by Affiliated Development. (Note: Information from other potential sources like the Sun Sentinel or Miami Herald wasn’t available, so this focuses specifically on these documented initiatives).

2. Broward County Housing Authority (BCHA)’s Affordable Housing Push

BCHA is actively working to increase affordable housing, investing $49 million into three new development projects. Their strategy involves several key approaches:

• Smart Financing with Tax Credits: BCHA relies heavily on federal Low-Income Housing Tax Credits (LIHTCs) to make projects financially possible.
  • East Village: Secured ~$20 million in LIHTCs (via The Richman Group).
  • Progresso Point: Secured ~$14.5 million in LIHTCs (via National Equity Fund, Inc.).
• Strategic Partnerships: BCHA partners with both for-profit (Carlisle Development Group for East Village) and non-profit (Reliance Housing Foundation for Progresso Point) developers to leverage their expertise.
• Redevelopment & Land Assembly: The East Village project replaces an old, damaged public housing complex. BCHA also bought adjacent land to create a larger site (nearly 13 acres) for a more impactful development.
• Variety of Housing Types: Projects include garden-style apartments (East Village), a high-rise (Progresso Point), and townhomes (Crystal Lake Townhomes) to meet different needs.
• Focus on Quality & Sustainability: Developments include amenities like clubhouses and pools. East Village is aiming for LEED gold certification for environmental sustainability.
• Serving Different Income Levels:
  • East Village & Progresso Point: Primarily target low-income residents (LIHTC eligible).
  • Crystal Lake Townhomes: Aimed at households earning up to 120% of the area median income (AMI).
• Local Funding & Direct Involvement: Broward County provided HOME funds and grants. BCHA used its own funds for Crystal Lake and even hired general contractors onto its staff for better project control.
• Future Plans: BCHA is exploring acquiring stalled projects to potentially speed up affordable unit delivery.

Overall, BCHA is acting like a sophisticated developer, using many tools to build affordable housing in a complex market.

3. Private Sector Action: The Era Workforce Housing

Private developers are also stepping up, focusing on workforce housing. Affiliated Development is building “The Era,” an 8-story, 400-unit apartment tower with parking in downtown Fort Lauderdale.

• Workforce Housing Focus: Over half the units (at least 210) are for people earning 80% to 120% of Broward County’s AMI (roughly $59,627 to $89,440 annually based on the cited $74,534 AMI). This targets the “missing middle” – those earning too much for subsidies but not enough for market-rate rent.
• Quality Amenities: The Era will compete with market-rate buildings, offering a pool, fitness center, wellness studio, and a rooftop deck/speakeasy. This aims to make workforce housing desirable, not just affordable.
• Strategic Location: It’s near major job centers like the CBD, Broward Health, the Federal Courthouse, Port Everglades, the airport, and the convention center.
• Local Team: Affiliated Development, Moss and Associates (contractor), and A+R (architect) are all Fort Lauderdale-based firms.

4. The Importance of Financing and Incentives

Both BCHA’s projects and The Era show that building affordable and workforce housing depends heavily on complex financing and government incentives.

• BCHA’s Mix: Uses federal LIHTCs, HOME funds, county grants, and its own money, plus private investment through tax credit syndication.
• The Era’s Mix: Relies on significant public help (15-year city tax reimbursement, 30-year county tax reimbursement capped at $5.5M) combined with large private funding ($80M bank loan, equity from Affiliated’s fund and private family offices).

The key takeaway? Public-private partnerships are essential. Neither government nor the private market alone seems able to deliver this housing at scale. Local incentives, like the tax reimbursements for The Era, are crucial tools governments use to encourage private development of needed workforce housing.

5. Housing’s Link to Broward County’s Economy

These housing projects are directly tied to Broward County’s economic health. Providing workforce housing like The Era is seen as vital for supporting economic growth.

Why? Businesses need workers. If essential workers can’t afford to live near their jobs, businesses struggle to hire and retain staff. Many fast-growing jobs in Broward (like food service, customer service, nurses, retail workers, janitors) have wages that fall into the income range targeted by these workforce (80-120% AMI) and moderate-income (up to 120% AMI) housing projects.

So, these developments are more than just housing – they’re investments in the county’s economic infrastructure. They help ensure a stable workforce for key industries like healthcare, tourism, and logistics, keeping the county competitive.

While BCHA focuses more on lower incomes and Affiliated targets the workforce segment, together they address a broader range of housing needs below market rate, creating a more balanced housing environment for residents and the local economy.

Table 1: Overview of Recent Broward County Housing Development Projects

6. Conclusion: Targeted Actions in a Tough Housing Market

Recent actions by BCHA and Affiliated Development show focused strategies to tackle parts of Broward County’s housing shortage. BCHA uses a mix of federal funds, partnerships, and direct investment for low- and moderate-income housing. Private developers like Affiliated are building crucial workforce housing, helped significantly by local government incentives.

The common theme is the need for complex financing blending public and private resources. Public-private collaboration is key to making affordable and workforce housing happen.

These projects are also viewed as essential for Broward’s economy, helping ensure workers can afford to live near jobs. While these are important steps, they happen within a broader context of high housing demand. More data would be needed to see if these efforts are enough, but they clearly show key players are committed to addressing critical housing needs.