TALLAHASSEE, Fla. (WTXL) — "Tallahassee as well as many other cities around the country are facing a crisis of obtainable housing for our essential workforce," said Greg Lyon.
The two year and 15-million-dollar project, Altera 3100, is making its big debut. On Monday, 30 residents are moving into the complex and two weeks later 45 more. The 180-unit complex will be priced competitive market pricing with rent starting at $750. The average cost of rent for similar studio apartment is in Tallahassee is $796, according to Zumper.
The apartment complex is reportedly open to anyone but was specifically made in mind for individuals who work in roles such as first responders, retailers, and teachers.
The project comes when cities across America are currently suffering from a housing crisis. As of September 2022, Tallahassee's home prices were up 19.0% compared to last year, according to redfin.com
"Every Community across the United States is facing a housing crisis right now and Tallahassee is no different. That's why housing is such a strategic priority for the city of Tallahassee," said John Dailey.
There are currently 1900 units scheduled to be built within Tallahassee over the next several years, housing like Altera studio apartments.
Index Companies, the investment company that developed this property, saw the need, and figured this location was a great place to start to help the community.
"Our vision is to truly provide not only a place or a home but a place to foster growth of our community members and a place to prosper," said Lyon.