Today marked a significant step forward for affordable senior housing in Osceola County with the groundbreaking ceremony of Buen Vecino in Buenaventura Lakes. The project, which has been in development for a considerable amount of time, is poised to become a beacon of hope for low-income seniors seeking comfortable living arrangements. According to an article by Osceola County, the effort has been made possible through a combination of public funding and dedication.
The initiative has benefited from a solid funding structure, including a $5.2 million investment secured by Osceola County District 2 Commissioner & Chairwoman Viviana Janer. Additional funds come from nearly $5.7 million courtesy of the U.S. Department of Housing and Urban Development, and a $500,000 contribution from the City of Kissimmee.
The development promises affordability as a core feature, ensuring that future residents will only need to pay 30 percent of their income towards rent. This benchmark is designed to provide them with financial stability, an aspect that is often uncertain for seniors living on fixed incomes. Buen Vecino is designed to accommodate up to 60 apartments, each tailored for one to two occupants. To be eligible, applicants must be at least 62 years old and earn no more than 50% of the area’s mean income. Although the selection process is based on a lottery system, it is anticipated that seniors will begin moving in by late 2026…