Teachers who work in schools with a large number of low-income students may soon get help in buying homes in Palm Beach County neighborhoods, close to the school where they work.
The School Board will vote today on a public-private partnership that will connect the district with MerryPlace LLC as well as the West Palm Beach Housing Authority. If MerryPlace is approved, teachers at low-income schools may be eligible to receive a $7,500 down payment assistance to buy a home in new communities near Pleasant City Elementary, U.B. Kinsey/Palmview Elementary, Roosevelt Elementary, Northboro Elementary and Roosevelt Middle School.
Land preparation is already underway on the Pleasant City development, which is slated to include 16 single-family homes, 52 condos and 46 townhomes. Prices will be determined at a later date, but will take into account the median income of Palm Beach County, which is currently $64,000 for a family of four. The communities are scheduled to open in March, 2008, and pre-construction sales could begin within a few months.
The MerryPlace communities should be a fresh take on West Palm Beach real estate. Street names include Comfort Place, Beautiful Avenue, Contentment Avenue and Cheerful Street.
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