Pensacola approved a lease to build 84 affordable housing units on the old Pensacola Motor Lodge property on Monday.
The deal calls for 42 units to be available to active-duty military or veterans, an additional 42 units to anyone with eligible income levels, and at least five of the units to be rented to homeless veterans.
All units will be one-bedroom and 15 units will be rented at 30% of area median income or below, 26 units will be rented at 60% area median income or below and 43-units at 80% of area median income or below for the entire duration of the 99-year lease.
The Pensacola Community Redevelopment Agency voted 7-0 on Monday to approve the lease with Smith and Henzy Affordable Group.
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