County and school officials are examining the possible purchase of a 28-unit housing development currently under construction near MM 95, oceanside, in Key Largo.
Developers of South Cliff Estates, Richard Riehl and Frank Pla, are offering the project for an $11.5-million asking price to Monroe County and the school district. Both entities could split the cost over a period of five years, as offered by the developers, to acquire the housing development. The county and school district would divide the units in half, with 14 for county workers and 14 units for school employees.
In February 2021, the county planning commission unanimously approved a major conditional use request for the housing development. It didn’t go without concerns over traffic and public safety concerns from neighboring residents.
Attorney Gaelan Jones told board members at a June meeting that developers approached the county and school district over potentially buying the development for their workforce.
“The project is already well underway. The developers are just looking for additional investment in this project to finish construction,” Jones said, adding that the board of county commissioners directed the county administrator to proceed with a possible partnering with school officials.
The units, which vary from one-bedroom to three-bedroom, would be designed for workers in the 80-100% area median income category. Jones said food service and transportation staff would qualify for the 80% AMI housing, and entry-level teachers who are expected to see a pay raise would still be eligible to live in the 100% AMI units.
However, Jones said it’s unclear if starting teachers with recent raises would qualify for the 80% AMI units. Jones said the county is seeking to adjust income restrictions.
Jones said the school district has some concerns over funding the housing project. He asked the board to conceptually support the project to allow the superintendent to continue discussions with the county and “get creative and try to explore all options.” School board member Mindy Conn said she conceptually supports the idea, but she had concerns spending actual capital dollars. Conn proposed the county collect the school district’s rent to pay for the $5.5 million.
“Once we met our half of our obligation, then we can hire a management company to give us that revenue,” Conn said.
Chairman Andy Griffiths and school board member Darren Horan also support the project from a conceptual standpoint.
