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The Preserve At Flagler Beach

Project Impacts

Back to Project Details: The Preserve At Flagler Beach

Note: At the time of this report, SDS is in the process of collecting additional data from the project sponsor, development team consultants, local government officials, community stakeholders, and others to assess the full scope of the project’s impacts in the context of the surrounding community. The projected impacts below are based on the ASREF CRA Analysis. For more information on Impact Report methodology, please see section 1.3.

Impact on
LMI Individuals
& Communities

ASREF’s investment into The Preserve at Flagler Beach will go towards increasing the workforce housing stock in this rural community. Provision of the USDA 538 loan mandates that 100% of units will be affordable at less than 100% AMI and tenant incomes cannot exceed 115% AMI for a period of 40 years. This increased housing stock will provide an incentive for increased and continued residency of the tenant base.

Economic
Development
Impacts
ALIGNMENT WITH LOCAL REDEVELOPMENT PLANS

The development of The Preserve at Flagler Beach is perfectly aligned with the City of Flagler Beach Comprehensive Plan 2035, specifically the Housing Element (Section D), by constructing housing for low-and-moderate-income households.

Community And

Social

Impacts

The project sponsor is contributing $223,440 for a new school and $36,000 for a new fire truck for the municipality, further contributing to improving the community development of Flagler Beach.

Environmental 

Impacts

The Preserve at Flagler Beach will include walking trails, preserved natural shade cover and sustainable landscape design on the property, as well as direct access to nearby Wadsworth Park.