CHANGING COMMUNITIES
Norwood School Property Development
Grace And Truth Community Development Corporation is developing the former Norwood School property into a mixed use development with 70 units of new Senior Housing, approximately 14,400 square feet of commercial space for business supporting Seniors and an approximately 5,000 square foot community center. The commercial space will be a revitalization of the empty Norwood School, the community center will be housed in the auditorium building for the school, and the new residences will be two newly-constructed buildings.
This development is located in the 32208 zip code, Census track 0014.00, which scores a 19 on the foreclosure score and 18 on the vacancy needs factor scale. There are 9,529 individuals living within a one mile radius of the site with 1,999 age qualified to live in a senior housing community. Of these, 807 of the seniors have income less than $25,000 and 604 have income less than $15,000. This development will provide twenty one-bedroom/two-bedroom apartments to seniors with income below 30% of the area medium or $13,500 for one individual; 64 one-bedroom/two-bedroom apartments for seniors with income below 50% of the area medium or $22,350 for one individual; and six two bedroom apartments for couples at or below 50% of the area medium income for two individuals or $25,550. The rents will be $511, $603, and $613 respectively. The commercial area will house businesses that can service the needs of the seniors.
* Note: Rental amounts are subject to change.
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