Thursday, March 20, 2008
Boca's Missing Bridge
Last week Boca Raton’s Housing Authority faced a near riot as applicants literally camped out (some overnight) in hopes of securing a housing voucher. This incident shockingly demonstrates that the demand for housing in our region is clearly strong. But- this is the side of the market that is obviously linked to subsidized apartments that cant seem to satisfy a seemingly desperate demographic.
Palm Beach County and in this case Boca Raton is constantly facing occupancy challenges , and will only get tougher during the traditional summer season as the snowbird population migrate north. The evidence is the increased dawning of large bright street signs at “A” rated luxury apartment communities, shouting move in specials. Unfortunately, the signs usually generates the polar opposite of what was set off by a mere announcement of voucher applications- that drew Christmas sale like lines to the doorstep of the city’s housing leaders.
There is obviously something missing here, something that requires a bridge between the two markets.
The riot police, the comments from desperate residents, the shocking video of people swarming makes for interesting media content, but the true story is once the cops and cameras are gone the Boca Raton Housing Authority will remain in the spotlight.