The Real Deal Miami

State budget cuts kill affordable housing project

January 14, 2009 02:57PM

The Gardens at Driftwood, a 120-unit rental complex in Hollywood for
residents age 55 and older, will be canceled due to state budget cuts,
developer Marc Plonskier said. The complex was slated to have one- and two-bedroom units ranging in rent from $346 to $898 per month. But
legislators were expected to eliminate $8 million from a state
affordable housing trust fund in budget discussions today, and that
would prevent the project from going forward. The project’s only chance
for survival would be a line-item veto from Governor Charlie Crist to
restore money to the trust fund. Affordable housing advocates said the budget cuts would affect 36 projects statewide.