308 affordable housing units headed for Panama City area, county officials say

Samantha Neely, The News Herald
·3 min read

PANAMA CITY — After Bay County residents have dealt with a rough four years, some might be seeing a light at the end of the tunnel regarding housing.

The Bay County Commissioners approved $6 million in funding for three rental development proposals, bringing more affordable housing to the Panama City area.

The proposals come at $2 million each, coming from the $36 million in Hurricane Housing Recovery Program funds received after Hurricane Michael hit the county in 2018. The commission approved two agreements with Fletcher Black and one with Bid-A-Wee.

There will be a total of 308 units between the three locations, seeking to provide decent housing and suitable living environments to residents, as well as expand economic opportunities principally for households of very low and low income.

Vacant land across from the Bay County Library has been targeted for new affordable housing development by the Bay County Commissioners.
Vacant land across from the Bay County Library has been targeted for new affordable housing development by the Bay County Commissioners.

Real estate news: How hot is the Panama City-area real estate market? Home sale prices rise to $310,000

Affordable housing in PCB: High-end, 'affordable as possible' homes for sale in new PCB community. Take a look.

On April 27, the Housing Services Division released an RFQ for eligible developers for the construction of residential rental developments for affordable housing. After receiving the responses, they were evaluated by the county staff committee and the affordable housing advisory.

Most developments have housing based on the area's adjusted median income with the rent. Bay County's AMI is currently $76,000.

The Bay County Commission approved $6 million between three proposals, bringing a total of 308 affordable housing to the Panama City area. Pictured are the renderings for Bid-A-Wee's complex, located at the intersection of 19th Street and Florida Avenue, which will consists of 144 units.
The Bay County Commission approved $6 million between three proposals, bringing a total of 308 affordable housing to the Panama City area. Pictured are the renderings for Bid-A-Wee's complex, located at the intersection of 19th Street and Florida Avenue, which will consists of 144 units.

Bay County Commissioner Doug Moore, who also serves on the Affordable Housing Advisory Committee, explained this will allow them to bring the rental rate down in certain areas.

"They'll still be paying but it will benefit the community because the workforce of people making $15 an hour or some that are in special needs that are subsisting on Medicare or Medicaid... this is going to help those people out as well," Moore said. "It's going to be a nice mixed development.... We've seen the renderings of what they're doing and it's going to be a very nice development, it's going to add to the community."

Fletcher Black One, located at the intersection of Balboa Avenue and 11th Street, will consist of 100 units and will cost $24 million in total. Fletcher Black Two, located on the same lot, will consist of 64 units and will cost $15 million in total.

Bid-A-Wee's complex, located at the intersection of Florida Avenue and 19th Street, will consist of 144 units. No total amount is listed for this project.

The Bay County Commission approved $6 million between three proposals, bringing a total of 308 affordable housing to the Panama City area. Pictured are the renderings for Fletcher Black was approved for two complexes, both located at the intersection of Balboa Avenue and 11th Street, which will consists of 164 units.
The Bay County Commission approved $6 million between three proposals, bringing a total of 308 affordable housing to the Panama City area. Pictured are the renderings for Fletcher Black was approved for two complexes, both located at the intersection of Balboa Avenue and 11th Street, which will consists of 164 units.

More: Panama City-area home prices rise 5.4% in June, with houses for sale in high demand

These developments are scheduled to break ground in October and will be completed by March of 2024.

During the meeting, commissioners shared their appreciation for the upcoming housing project, saying this is a great opportunity for residents who need it. Officials also applauded the work of Housing Program Manager Tammy Harris and her team for their work in obtaining the funding.

"This would be great for these folks that are in those positions to work themselves to a better place and that's the way I see it, is it is a good place to live. These renderings are very, very nice," Bay County Commissioner Tommy Hamm said. "It looks like these are going to be very nice places and then as (residents) move up the ladder and move on to better places, that frees up another spot for someone else to come in the building as well."

With rising inflation taking its toll on residents, Moore said it's great timing to make this investment in the community.

"The wonderful thing about this is the timing of the issue... we're having trouble being able to find (affordable housing)," Moore said. "Part of the reasons why Florida Housing actually gave these people money is this is located in quick access to doctors, to hospitals, to public transport, so this would be very easy for people that live there that don't have their own transportation to be able to move in and still be able to get to their jobs and be able to do things."

This article originally appeared on The News Herald: Bay County officials approve 308 affordable housing units to city area