The Nest at Robin’s Apartments will see 182 residential units all priced as workforce housing.
by Kim Doleatto via SRQ Magazine – Click here for this complete article and similar stories
The Nest at Robin’s Apartments will bring 182 new residential units to Bradenton—but unlike other projects going up in the region, these will all be priced as workforce housing. The units will be on a vacant five-acre lot next to Robins Apartments, just south of U.S. 301 on First Street East and east of South Tamiami Trail. Even though groundbreaking is next month and the project will take roughly 18 months to complete, builder and developer One Stop Housing has already received more than 100 applications.
Soaring local rents have made national headlines in recent years and interest rates have increased, making affordable housing a hot topic. It’s gaining some traction with local and state governments, with legislation like the Live Local Act, which, among other points, allows for increases in density and height in exchange for the creation of affordable units. It was recently applied to a downtown Sarasota project that’s still in its early stages.
What’s different about The Nest is that 100 percent of the units will be—and remain—priced for working people, spanning 60 percent to 80 percent of the area median income (AMI).
Units will range from 300 square feet for a studio, (34), to 550 square foot, one-bedroom units (74) and 750 square foot, two-bedroom, two-bathroom units (74).
The studios will be priced at 60 percent of AMI, which amounts to a one-person household earning no more than $42,240 a year. The one and two-bedroom units will be priced at 80 percent of the AMI, which amounts to $64,320 a year for a household of two.
The Multifamily Site 
You must be logged in to post a comment.