The term “American Dream” was coined in 1931 by historian James Truslow Adams, and while it has come to mean many things to many people, we’ve come to consider homeownership as one of the key components to realizing the American Dream.
But, as our region and our nation continue to feel the lasting impacts of the pandemic and an unprecedented housing market that is affecting both supply and its affordability, many are feeling the dream of homeownership is increasingly out of reach—and the numbers corroborate that feeling. UF’s Shimberg Center for Housing Studies reports the average local 3-bedroom, 2-bathroom home is selling for $407,000, while the average rent for a 1-bedroom apartment runs just over $1,200 a month. The average yearly income of Gainesville residents is reported to be $52,000.
Though our local governments and agencies can’t reverse the effects of the pandemic and the cyclical housing market, they are working hard to alleviate the worst impacts on our residents with innovative solutions and, importantly, the funds to support them.
Alachua County recently allocated $13 million to permanent supported housing to help transition homeless people and families into housing. And, by purchasing the old Scottish and Budget Inns, the County will soon have 60 or so new housing units, along with the accompanying services needed to keep people housed. An added bonus to the Scottish Inn purchase is the adjacent land that came with the purchase, which the County plans to use to build container homes, adding additional housing.
A major focus for the City of Gainesville is to revise its land use and zoning policies to support developing more affordable housing. Two examples demonstrate how this will help. Particular developments have been required to set aside a certain amount of space for retail, but now the City is providing the option to build affordable housing units to satisfy that requirement instead. The City also just unanimously approved making developing single-room occupancies easier, allowing for dormitory- and hostel-style accommodations.
In addition, the Gainesville Housing Authority completed phase 1 of its Woodland Park affordable-housing complex, which added 96 multi-family units to our stock. GHA expects to break ground on the $42 million Phase 2 later
this year, which when completed will bring another 144 residences online.
Smaller, but still very significant, efforts are making an impact as well. The City of Newberry is helping make housing more affordable by refunding housing deposits to first-time residents who maintain a good credit rating and pay their bills on time their first year.
These types of innovative solutions and collaborative efforts will make a difference in helping restore the American dream of a safe, comfortable home for all.
Editor’s note: This is the latest in a series of business columns sponsored by Pavlov Media.