Orlando, Florida is offering homeowners more than $10,000 in incentives to build accessory dwelling units, or ADUs, to help expand affordable workforce housing.<\/p>\n
The city\u2019s new ADU incentive program offers<\/a> rebates covering construction, permit and certain impact fees for homeowners who build small rental units and lease them at workforce-friendly rates. .<\/p>\n “We need a lot more affordable housing, and the market has always been producing three- and four-bedroom homes because that\u2019s what we\u2019ve always allowed. So we\u2019re really playing catch up,” Orlando City Planning Manager Jason Burton told<\/a> Homes.com<\/a>.<\/p>\n Don\u2019t Miss:<\/p>\n Orlando Launches ADU Incentive Program<\/p>\n Orlando approved the ADU Incentive Program in February as officials look for ways to address housing shortages tied to the region\u2019s hospitality and tourism workforce, according to media reports<\/a>.<\/p>\n The program includes rebates of up to $10,000 for ADU construction costs, along with rebates covering building permit fees and certain transportation, sewer and park impact fees.<\/p>\n Orlando Simplifies ADU Permitting<\/p>\n The city announced<\/a> plans in February to develop a library of pre-approved ADU designs that officials hope will simplify permitting.\u00a0<\/p>\n Trending: A 1% fee difference on $200,000 over 30 years quietly costs you $170,000 in lost returns. Empower\u2019s fee analyzer shows you exactly what you\u2019re paying \u2014 across every account.<\/a><\/p>\n Orlando Housing Initiative Manager Ben Paquin told Benzinga on Tuesday that the city is soliciting pre-designed ADU plans for the program and now expects the online library to launch in the fall following a review process.<\/p>\n “We want to make it easier to build these types of units,” Paquin told WESH-TV<\/a> in February. He said the process can be intimidating for many homeowners, but pre-approved plans could reduce design costs and streamline permitting.<\/p>\n ADU program rules limit units to 500 square feet and prohibit them from being built in front yards or dedicated easements.<\/p>\n ADUs Gain Attention As Housing Costs Rise<\/p>\n In Orlando, the average home listing price is about $374,302 while renters pay roughly $1,887 per month on average, according to Zillow.com<\/a>.\u00a0\u00a0<\/p>\n City officials view ADUs as a way to address housing shortages without requiring large-scale residential development projects, according to a February staff memorandum<\/a>.\u00a0<\/p>\n See Also: Explore whether your retirement strategy is optimized for income, taxes, and long-term withdrawals \u2014 take the AdviserMatch quiz today.<\/a><\/p>\n “ADUs contribute to neighborhood stability by increasing housing density without requiring new infrastructure or disrupting established neighborhood patterns (gentle density),” the memorandum states.<\/p>\n Lichtenstein said Orlando\u2019s incentive program could encourage more ADU construction in the coming years. “If you visit other countries where there are population density issues, these are practical solutions that those countries deploy,” he said. “The demand is overwhelming for this.”<\/p>\n Read Next: Arrived Home\u2019s Private Credit Fund\u2019s has historically paid an annualized dividend yield of 8.1%*<\/a>, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum.<\/p>\n Building Wealth Across More Than Just the Market<\/p>\n Arrived<\/p>\n ARK7<\/p>\n Doroni<\/p>\n Immersed<\/p>\n Vinovest\u00a0<\/p>\n Fine wine and rare whiskey have historically moved independently of the stock market, making them a compelling alternative asset. Vinovest manages authenticated, insured portfolios of investment-grade wine and whiskey starting at $5,000<\/a> \u2014 sourcing, storage, and insurance all handled for you.<\/p>\n EnergyX<\/p>\n FarmTogether<\/p>\n Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000<\/a> \u2014 fully managed, with no landlord headaches.<\/p>\n EquityMultiple\u00a0<\/p>\n For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000,<\/a> with only ~5% of opportunities passing their due diligence process.\u00a0<\/p>\n Fundrise<\/p>\n