ORLANDO, Fla. — The Orlando City Council has approved the Unlocked Open-Door Program, paving the way for new homebuilding and homeownership opportunities in District 5’s Parramore and downtown neighborhoods.

What You Need To Know

The Orlando City Council approved a new housing initiative focused on Parramore and downtown District 5

Eligible buyers can receive $45,000 in down payment assistance

Builders must sell homes for $375,000 or less to qualify for 100% permit and impact fee rebates

The city allocated $750,000 from the Community Redevelopment Agency initially, and the program runs through January 2029

The initiative could make it easier for families to build or buy a home now, thanks to targeted incentives and city-backed support, according to program supporters

Now that the program has gotten the green light, vacant lots across Parramore could soon see new life.

Some realtors said they believe the program opens the door for future homeowners to purchase property in neighborhoods that have often been overlooked.

“And why not do it? Empower more when, you know, the city is backing us, by offering us the incentives to be able to do so?” said Josephine Ducreay, managing broker with SLR Group.

The incentives are aimed at buyers and builders.

Eligible buyers can receive $45,000 toward payment assistance from the city on a single-family home, potentially wiping out the need for a down payment on a new home.

One Parramore property highlighted under the program would cost the owner a rate similar to renting in Orlando.

“Making their monthly payment anywhere from like $2,100 to $2,200 a month, give or take,” Ducreay said.

The plan is to convert more than 300 vacant lots in Parramore and the surrounding downtown community into privately owned, single-family homes.

To increase the supply of affordable homes, the city is incentivizing builders.

Developers must agree to sell homes for $375,000 or less. In return, they receive a 100% rebate on impact and building permit fees.

GoGreen Home Builders owner Timothy Green said the program offers a meaningful opportunity.

“And it just really means a lot to me to come back and redevelop my community. You know, provide the needed housing, provide economic impact,” Green said.

Unlocked Open-Door also comes with requirements. Buyers must qualify based on income, credit score and debt-to-income ratio standards. Owners also must live in the home for at least five years.

“(Buy a) Place that you can call your home. Build generational wealth for you and your family and something that you can actually pass down,” Ducreay said.

First responders — including members of law enforcement, firefighters, emergency medical technicians and nurses — also are eligible for an additional $10,000 each to help them purchase a home.

“We put aside a special $10,000 because, typically, they would not financially qualify for down payment assistance. But this is our commitment to saying, ‘Hey, we really want you to come and live here’,” Orlando District 5 Commissioner Shan Rose said.

A total of $750,000 from Orlando’s Community Redevelopment Agency has been set aside for the initial rollout of the program. Efforts will run through January 2029, or until the funding is exhausted.