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The Hillsborough County Commission has approved up to $16.2 million in American Rescue Plan funding to purchase and rehabilitate a 96-unit multifamily rental property on Busch Boulevard – in hopes of alleviating the lack of local affordable housing.
The complex, Armature Place Apartments, will provide affordable housing opportunities for low-income residents for at least the next 30 years. The rehabilitation work should be completed by March 2024. The rehabilitated units will be rented at below-market rates to residents making 80% or less of the area median income.
In 2021, Hillsborough County invested over $54 million into affordable housing, impacting over 24,300 households.
– Kelly Hayes, Extensive Enterprises Media