P3X2 - Affordable Housing Cluster #11

Affordable Housing Cluster 11

-The Woodlands Apartments
-Valencia Forest Apartments
-Valencia Park Apartments

These developments are within close proximity to the Valencia Community College East Campus. This means that these properties are well located to serve the affordable housing needs of the students which are attending there. Interestingly, all three of these developments are targeted towards families.

In addition, these developments are located in the immediate area of the renovation to the highway 417 to highway 408 interchange. The old off ramp from 417 was replaced by a series of fly over loops towards the east. The remnants of the old exit can be seen bordering two of these developments. This path has since been paved as a street which now provides another way to reach Chickasaw Tr.

The highway causes these developments to be cut off from several direct paths. Instead the residents must circumvent the obstacles and take much longer journeys to reach their destinations.   
All of these features lend to an interesting set of challenges which can be improved upon if these properties were to be redeveloped.



The Woodlands Apartments

Property Information
Development Name: The Woodlands
Address: 604 Laurel Cove Court, Orlando, FL 32817
Housing Programs: State Bonds
Target Population: Family
Year Built: 1988
Year of Subsidy Expiration: N/A
Owner Type: For-Profit

Units and Buildings
Total Units: 526
HUD/RD Rental Assistance Units: 526
Total Living Area: 390,695
Number of Buildings: 29
1 Bedroom Units: 128
2 Bedroom Units: 296
3 Bedroom Units: 102
Units with income restrictions <=35% AMI: 0
Units with income restrictions 40-50% AMI: 0
Units with income restrictions 55-60% AMI: 0
Units with income restrictions 65-80% AMI: 106
Units with income restrictions >80% AMI: 420
Percentage of Units Occupied: 93%

Average Rents
1 Bedroom: $725
2 Bedroom: $811
3 Bedroom: $939
Average Rent/FMR Ratio: 81

Household Composition
Average Household Size (Persons): 1.95
Percentage of Households with Elderly: 3%
Percentage of Households with Children: 18%

Demographics
Average Annual Household Income: $40,727
Average Percentage compared to Area Median Income: 89.62%
Household Income ($0-$4,999): 1
Household Income ($5,000-$9,999): 0
Household Income ($10,000-$14,999): 0
Household Income ($15,000-$19,999): 1
Household Income ($20,000 and Above): 98

Valencia Forest Apartments

Property Information
Development Name: Valencia Forest Apartments
Address: 8413 Valencia Village Lane, Orlando, FL 32825
Housing Programs: Housing Credits 4%; State Bonds
Target Population: Family
Year Built: 2000
Year of Subsidy Expiration: 2029
Owner Type: For-Profit

Units and Buildings
Total Units: 336
HUD/RD Rental Assistance Units: 336
Total Living Area: 390,695
Number of Buildings: 29
1 Bedroom Units: 128
2 Bedroom Units: 296
3 Bedroom Units: 102
4+ Bedroom Units: 40
Units with income restrictions <=35% AMI: 0
Units with income restrictions 40-50% AMI: 0
Units with income restrictions 55-60% AMI: 336
Units with income restrictions 65-80% AMI: 0
Units with income restrictions >80% AMI: 0
Percentage of Units Occupied: 93%

Average Rents
1 Bedroom: $602
2 Bedroom: $709
3 Bedroom: $817
4+ Bedroom: $901
Average Rent/FMR Ratio: 78

Household Composition
Average Household Size (Persons): 2.57
Percentage of Households with Elderly: 5%
Percentage of Households with Children: 51%

Demographics
Average Annual Household Income: $23,581
Average Percentage compared to Area Median Income: 48%
Household Income ($0-$4,999): 3
Household Income ($5,000-$9,999): 6
Household Income ($10,000-$14,999): 10
Household Income ($15,000-$19,999): 18
Household Income ($20,000 and Above): 63

Valencia Park Apartments

Property Information
Development Name: Valencia Park Apartments
Address: 532 Park Tree Trail, Orlando, FL 32862
Housing Programs: Housing Credits 9%; 
Target Population: Family
Year Built: 1995
Year of Subsidy Expiration: 2023
Owner Type: For-Profit

Units and Buildings
Total Units: 208
HUD/RD Rental Assistance Units: 208
Total Living Area: 242,162
Number of Buildings: 27
1 Bedroom Units: -
2 Bedroom Units: 40
3 Bedroom Units: 168
Units with income restrictions <=35% AMI: 0
Units with income restrictions 40-50% AMI: 0
Units with income restrictions 55-60% AMI: 208
Units with income restrictions 65-80% AMI: 0
Units with income restrictions >80% AMI: 0
Percentage of Units Occupied: 95%

Average Rents
1 Bedroom: -
2 Bedroom: $710
3 Bedroom: $792
Average Rent/FMR Ratio: 70

Household Composition
Average Household Size (Persons): 2.99
Percentage of Households with Elderly: 8%
Percentage of Households with Children: 64%

Demographics
Average Annual Household Income: $26,985
Average Percentage compared to Area Median Income: 52.94%
Household Income ($0-$4,999): 2
Household Income ($5,000-$9,999): 5
Household Income ($10,000-$14,999): 5
Household Income ($15,000-$19,999): 11
Household Income ($20,000 and Above): 79