Abstract
The purpose of this research is to determine whether or not affordable housing can have a positive impact on the Fort Lauderdale economy and, if possible, to identify the methods on how to extract the most profitable outcomes for society. Many times, affordable housing is managed improperly and after only a matter of years is regarded by locals as the “projects” or “ghetto.” As a result, the neighborhoods that encompass these developments depreciate in value, impairing the local economy.
Fort Lauderdale has experienced a grown spurt within the past 5 years and is continuing to grow at a steady pace as it becomes more recognized by snowbirds and local South Floridians. In addition, its poverty rate is noticeably higher than the state average, which testifies to the need of proper low-income housing units.
By analyzing the Fort Lauderdale markets at a macro and micro level, I seek to formulate an effective strategy that will enrich the local economy by enhancing the job market and stimulating local economic development. I aspire to develop a successful method that will convince neighboring communities that affordable housing units will increase the value of their districts, while internally increasing the value of the communities these units inhabit.
Faculty Sponsors
Charles Harrington
Project Type
Event
Location
Alvin Sherman Library
Start Date
4-10-2015 1:00 PM
End Date
4-10-2015 5:30 PM
Can Affordable Housing Stimulate the Fort Lauderdale Economy?
Alvin Sherman Library
The purpose of this research is to determine whether or not affordable housing can have a positive impact on the Fort Lauderdale economy and, if possible, to identify the methods on how to extract the most profitable outcomes for society. Many times, affordable housing is managed improperly and after only a matter of years is regarded by locals as the “projects” or “ghetto.” As a result, the neighborhoods that encompass these developments depreciate in value, impairing the local economy.
Fort Lauderdale has experienced a grown spurt within the past 5 years and is continuing to grow at a steady pace as it becomes more recognized by snowbirds and local South Floridians. In addition, its poverty rate is noticeably higher than the state average, which testifies to the need of proper low-income housing units.
By analyzing the Fort Lauderdale markets at a macro and micro level, I seek to formulate an effective strategy that will enrich the local economy by enhancing the job market and stimulating local economic development. I aspire to develop a successful method that will convince neighboring communities that affordable housing units will increase the value of their districts, while internally increasing the value of the communities these units inhabit.
