Update from the CEO
As you know, Palm Beach County is in the middle of a full-blown housing crisis. Rental prices and evictions are on the rise. Owners of rental units in urban communities are looking to take advantage of the red hot market by selling their properties, many times to speculators who will in turn increase rents or repurpose the properties. In either case, it typically means that existing renters are displaced and left without viable housing options.
The Business Development Board has shared that many businesses are weary of relocating to Palm Beach County due to the cost of housing and the lack of supply of attainable housing for the majority of their stakeholders. Additionally, existing businesses are unable to attract talent to fill critical positions.
In the last several months, CPSFL has submitted offers to purchase properties (both single and multi-family) that would both preserve and create housing units that would remain affordable for working families who are the backbone of our economy. In each case, our offers are rejected because we simply cannot compete with developers and investors offering cash.
We are committed to finding creative solutions to these challenges and to partnering with other organizations to find solutions. The $200 million housing bond on the ballot in November is certainly a step in the right direction, but will not solve a problem that has so many complex variables. We will continue to do everything in our power to keep people in their homes, build new affordable inventory, and prepare those who desire homeownership to purchase when homes become available.
We are a proud partner in the upcoming Securing Our Future Economic Mobility Summit on September 28 at the Convention Center. The summit will bring together community leaders to find new ways to help families earn more and move out of poverty collaboratively. I'm honored to represent CPSFL as we discuss housing and homelessness, employment, childcare, education, safety and justice, food and hunger, health, and transportation. Please join us at the event or consider a sponsorship.
My door is always open,
Scott Hansel, CEO
Community Partners of South Florida
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