A year after buying the old Pensacola Motor Lodge, the city wants sell it − but only as long as the buyer builds affordable housing.
The city has been working toward making the 1940s-era Pensacola Motor Lodge an affordable housing project since 2023, but the sale of the property to the took a year to come together.
The city quickly found a developer willing to build the project, but it was reliant on winning highly competitive affordable housing tax credits that underpin most affordable housing projects in Florida. The lease was written in a way that assumed it would be moving forward by this point, and now will have to be renegotiated for the developer to keep competing for tax credits…