SANFORD, FL-In rare public comments, Sanford Housing Authority executive director Timothy Hudson, says six aging apartment complexes in his area should be removed from the jurisdiction of the US Department of Housing and Urban Development and offered to a private developer who could renovate and operate the assets more efficiently.

The developer would have the option of either razing the existing properties and replacing them with a mix of new shelter and commercial development or renovating and improving all six multifamily buildings. The structures house 238 family tenants in an estimated 600 units.

The developer would allocate at least 40% of the units to public housing tenants. The remainder would be rented at current market rates. One property especially, the 100-unit Lake Monroe Terrace apartments, is in rickety condition and has long needed repairs. <p<In a published statement, Hudson says he feels a private developer could quickly raise about $7 million and do the Lake Monroe Terrace job in eight months compared to his agency which would take 10 years to complete the job because of bureaucratic Federal red tape. Placing the six public housing properties under private ownership would put the complexes on the tax rolls and make them a revenue-maker for the city, Hudson says. Under HUD, the properties are exempt from local taxes.

But convincing the tenants of such a plan will be a difficult assignment, the Housing Authority official concedes.

Many of the tenants have lived in the projects for decades and fear they would be paying higher rents and be less protected by HUD in a newer, privately-operated facility. The Sanford Housing Authority lost an appeal to HUD earlier this year when it requested money to fix up or replace some of the aging structures with new residential and commercial facilities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.