Affordable housing is targeted to low/average income earners, for example, those who earn minimum wage or individuals who are receiving government assistance such as seniors or people with a disability.
Attainable housing, which used to be called Workforce Housing, focuses on average/medium-income households who have been priced out of the market or are struggling with higher rents. Most of the time it is unsubsidized, profitable housing developments that meet the needs of those with incomes between 80% and 140% of the Area Median Income (AMI)*.
At Monceau Real Estate, we focus on both affordable and attainable housings. Due to the higher land costs, the traditional ability of the private market to supply attainable housing has become challenging. In this light, we have worked diligently with the City and County officials to find creative ways to make it feasible. We analyzed with the government officials which area are in most need for attainable housings, and the Goulds area in the south of Miami became the obvious location.
* For more information on the Area Median Income (AMI) visit https://lnkd.in/dz8YxZV
