New affordable housing community coming to Arcadia

Writer: Camila Pereira
Published: Updated:

The housing market is skyrocketing across the state of Florida.

“We’ve got houses here even in Arcadia that go for $400,000 to $500,000,” said Robert W. Heine Jr., mayor of Arcadia. “Who can afford that with the interest rate?”

It’s made it difficult for people to find an affordable place to live but not impossible.

The Diocese of Venice in Florida and the National Development of America unveiled their collaborative project – San Pedro at Meadow Park, a new affordable housing community located in Arcadia.

But it took four long years for this passion project to come to fruition, during both COVID and Hurricane Ian.

“We went through a PUD process with the city, we had to get our funding from Florida Housing and then we ran into all the obstacles with the market conditions being construction prices, insurance going up, interest rates going up,” Matt Miller said, Director of Real Estate for National Development of America Inc. “That brought us to here to 2024 where we’re going to be able to start leasing these units on Thursday.”

Arcadia Affordable Housing. CREDIT: WINK News

Twenty-three units, each comes with three bedrooms, two bathrooms, stainless steel appliances, washer and dryer units inside and more, with leasing rates ranging between $650 to $900 a month.

People were already rushing to secure their new and affordable homes.

“We already have 13 of the 23 units leased,” said Miller. “I don’t think there’s ever been this much of a demand for affordable housing. When you factor in all the rental rate increases, the displacement from Ian and so this, this project could not have come at a better time.”

But they’re not stopping there, Miller said they have more affordable home communities coming to Southwest Florida soon, because, like he said, the demand is growing.

“We also have a project with the Diocese of Venice in Fort Myers,” Miller said. It’s 136 units off Michigan Avenue, and we should start leasing that in late February, early March.”

Residents of San Pedro at Meadow Park will start to move in as soon as Thursday.

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