Affordable housing options have expanded for renters in Southwest Florida after Blue Deep Creek in Charlotte County started accepting leasing applications.
Here's what to know
According to Gulfshore Business, the development is complete after an expedited permitting process. Monthly rents range from $940 to $1,500 for the first 70 units at 2480 Luther Road—nine one-bedroom apartments and 61 two-bedroom apartments.
Households earning up to 80% of the area median income may qualify, and some homes are reserved for residents earning 30% or less.
Geoff Harlan, senior vice president of acquisitions for developer Blue Sky Communities, said, "We finished construction and we started lease-up, so this is great news; we're excited."
The first move-ins are expected before the Nov. 18 ribbon-cutting ceremony.
More background
The property offers amenities including a clubhouse, fitness center, activity room, and playground, and it meets National Green Building Standards, designed to make clean living easy while also reducing utility costs through energy-efficient features.
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More affordable housing could also be on the way soon, per Gulfshore Business. A second phase at the same site is expected to add 70 more apartments.
Harlan told the outlet he expects all required approvals by Jan. 27, 2027.
What's being done?
This isn't the first time Blue Sky Communities has brought affordable housing to the region. Gulfshore Business said the developer previously teamed with Community Assisted and Supported Living on Jacaranda Place. The 88-unit community in Port Charlotte serves low-income residents and people with disabilities.
Blue Deep Creek came together through a combination of local government action, public assistance, and private financing.
The government contribution came to about $1.8 million, including nearly $639,000 from a HOME program loan, $400,000 through the State Housing Initiatives Partnership, $400,000 in Hurricane Housing Recovery funding, and $340,000 from the Local Government Area of Opportunity, according to Gulfshore Business.
Approximately $18 million was tied to the Florida Housing Finance Corp. and a competitive 9% low-income housing tax credit award. Other funding included a $2.25 million bank loan and $1.2 million from the developer fee structure.
"We couldn't build affordable housing without this kind of support," Harlan said.
Where can I learn more?
Across Florida and beyond, communities are trying different approaches to add housing and manage growth.
• In Volusia County, a nonprofit broke ground on the first shipping-container tiny-home village for residents.
• Charleston leaders moved toward plans for 3,500 affordable homes to speed construction citywide.
• In Florida, new luxury green homes are rising even as affordability remains strained.
• In Tarpon Springs, a developer won approval after years of riverfront criticism and concessions.
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