July 13, 2006
From the Tallahassee Democrat
City leaders recognized Wednesday the first housing development to incorporate units under the city's affordable-housing ordinance. The first phase of K2 Urbancorp's 36-acre development on Capital Circle Northeast near Mahan Drive will include 99 units, 10 of which are reserved for affordable housing. The city passed the ordinance in April 2005. Proponents say the ordinance, which provides incentives for developers to build homes with a maximum price of $160,000, will help working people find homes. But opponents say the prices are still too high for poor people, while some developers say it creates extra costs.