ORLANDO, Fla. — City leaders in Orlando are looking to help with the growing housing crisis.
If you live in an apartment, then you know the sticker shock all too well.
A new real estate report shows average rent prices are up nearly 15% this year.
Housing experts said there are millions of vacant homes nationwide, on top of the current housing shortage.
They want federal lawmakers to find ways to use those lots more effectively.
One policy solution, they say, is to create more land banks, public groups that work with neighborhoods to turn rundown lots into homes.
Some lawmakers are also considering proposals that would create nearly 1 million additional affordable homes nationwide.
Orlando City Council members are getting ready to vote on a plan that would convert rooms at the Ambassador Hotel into 150 affordable low-income apartments.
City leaders call this project unique.
Typically, when you think affordable housing, you think single family homes.
But the Ambassador Hotel development will house renters who need one-bedroom apartments.
The Ambassador Hotel on West Colonial and Westmoreland drives may soon become a more permanent place for people to live.
A developer has plans to renovate the rooms and rent them out for $750 a month, including utilities.
There would also be 15 rooms that are reserved for permanent supportive housing for homeless people.
The city council votes on the project on Monday. If it’s approved, renovations should be complete by next fall.
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