High-End Custom Builder Pivots to Affordable Housing

Steve Rinehart, of Rinehart Homes, in Manatee County, Fla., has shifted to building affordable homes after a career of high-end custom projects.

The Herald Tribune reports that Rinehart has already completed a development of affordable housing units, taking advantage of the county’s Affordable Housing Credit Impact Fee program. The incentive allows the county to pay for impact fees if a developer meets certain affordability guidelines and the homeowners meet income qualifications.

There is clearly a need for more affordable housing in Manatee County. Geri Lopez, Manatee County’s redevelopment and economic opportunity director, calls the current situation “ugly” and the reason is because “the wages our work force receives isn’t enough to afford what the average sales price for a single family home is.”

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