Multi-Tenant Housing Units

There exists a lack of affordable housing for vulnerable sectors of the Palm Beach County population, including the independent elderly, very low income, and low-wage service workers. Real estate investors tend to disproportionately service high earners due to higher profit potential.

Multi-tenant housing units (MTHU) provide clean, safe, and affordable housing to these underserved citizens, without the need for government assistance.

 

Over 25% of Palm Beach Country residents are at least 40% below the median income in the county.

  • Affordable Housing

    Residents with annual earnings under $35,000 per year can afford MTHUs without additional financial assistance.

  • Increased Tax Revenue

    Increased tax revenue from MTHUs can be invested in upgrades to the area, or in the form of subsidies.

  • Clean Living Conditions

    Well-maintained units will raise the living standards of residents and add value to the surrounding community.

  • Reduced Homelessness

    Ensures affordable housing options for sectors including low-income and low-wage workers, and seniors.

MTHU Proof of Concept: 105 NW 5th Ave | Delray Beach, Florida

Implementing MTHUs can have a meaningful impact on the social and economic challenges resulting from the lack of affordable housing for vulnerable sectors of the Palm Beach County population.

The existence of the MTHU solution at 105 NW 5th Ave has stood as a proof of concept for the past six decades.

Current Property:

  • 7 units (each $500 per month) 

  • 120 Sq. Ft. per unit

  • 2 shared bathrooms

  • No kitchen 

  • No elevator

  • 7 parking spaces: only 2 occupied

  • Built in 1960: no material upgrades in 62 years 

Proposed MTHU Format:

  • 14 units (each $500-$550 per month)

  • 120 Sq. Ft. per unit

  • 4 shared bathrooms

  • Communal kitchen 

  • ADA-compliant elevator

  • 7 parking spaces

  • Upgrade internal and external structure to improve living standards and ensure code compliance

MTHU Ordinance Summary:

The ordinance creates a brand new designation of real affordable housing called Multi-Tenant Housing Units (MTHU).

  • Reduces parking requirements to one space for every two units. Data shows that the majority of current residents do not own cars.

  • Proposes density restrictions based on zoning: 24 units for Single Family, 36 units for MultiFamily and 48 for Mixed Use areas. MTHUs not permitted in any other districts.

  • Only 0.2 acres needed in Multi-Family districts (with proposed parking amendment), and requires no less than 75% of the applicable lot size in a Single Family Zone.

  • Requires one month minimum lease; limited stay uses (e.g. AirBnB) are prohibited.

  • Requires annual licensing of property managers and approval by the city.

  • Establishes a 1,000 ft. distance requirement between MTHUs.

MTHUs do not require either government subsidies or tax breaks!

Endorsed By:

Multi-tenant housing units are the answer.

For an in-depth look into our MTHU proposal, view our comprehensive presentation by clicking the button below.