Bowline Apartments Approved - 162 units north of Walmart

Don't you have to qualify for the $928? Plus it's only 20% of their one bedroom stock right?

Don't you have to qualify for the $928? Plus it's only 20% of their one bedroom stock right?

What I saw was 1,2,3 BR prices. I doubt they will have real verification of income.
Meanwhile it's totally unaffordable for teachers, cops or firefighters.

Developer intends:
72 1BR
75 2BR
15 3BR

Workforce units and projected rents:
15 1BR - $1,800/month
12 2BR - $2,200/month
3 3BR - $2,600/month

Developer John King transferred development order to an Atlanta based developer and said he doesn't recall ever saying 1BR rent would be $980/month.

I know $1800 is usually the going rate so I'm not sure how that's affordable.

I know $1800 is usually the going rate so I'm not sure how that's affordable.

Exactly. There is no affordable housing in SoWal that is decent and likely never will be.

Exactly. There is no affordable housing in SoWal that is decent and likely never will be.

Actually I believe that businesses will ultimate build it for their employees. I know of a business wanting to do that, but financing is sticky because it's housing, this is a whole new frontier in commercial financing in this area. I'm sure that exists as you have remote work camps in multiple different market segments.

Actually I believe that businesses will ultimate build it for their employees. I know of a business wanting to do that, but financing is sticky because it's housing, this is a whole new frontier in commercial financing in this area. I'm sure that exists as you have remote work camps in multiple different market segments.

Wouldn’t it be cheaper to pay employees more?

Wouldn’t it be cheaper to pay employees more?

If you have high turnover or seasonal jobs that's more the issue as well.

If you have high turnover or seasonal jobs that's more the issue as well.

OK so for seasonal workers you need "temporary" housing. I would think higher pay might help with high turnover if you mean more skilled workers and management.

I know St. Joe is building apartments with lower rents in Panama City Beach for workers. I'm not sure who else could afford that except maybe Sandestin or a group of restaurant owners?

OK so for seasonal workers you need "temporary" housing. I would think higher pay might help with high turnover if you mean more skilled workers and management.

I know St. Joe is building apartments with lower rents in Panama City Beach for workers. I'm not sure who else could afford that except maybe Sandestin or a group of restaurant owners?

A few other businesses have floated the idea. Most are talking about small groupings of apartments like 8-12 scattered across 3-4 buildings. The ultimate issue becomes where to build since NIMBY's will b**ch both about low income people living near them while also bitching that an empty restaurant has a two hour wait so the two servers that showed up don't kill themselves from exhaustion.

We have so many large apartment complexes coming online and planned. I suppose prices may come down if they get overbuilt, or we'll have 6 people living in one unit. Somethings got to give. Freeport prices seem out of line high.

I think our normal cycle is going back into place and there are quite a few folks that have been riding the 24/7 run we've had the past two years. It feels like we may have a normal fall, which over on the political threads will be labeled "the economic collapse of sowal".