Fort Pierce redevelopment agency considers funding for Oaks at Moores Creek housing units

The Fort Pierce Redevelopment Agency (FPRA) meeting on April 8, 2025, spotlighted the Oaks at Moores Creek project, with developers seeking crucial funding to expedite construction of affordable housing units. Daniel Rosemond, representing East to West Development Corporation, presented an update on the project, which aims to build 15 single-family homes for first-time buyers, with a focus on those earning up to 120% of the area median income.

Rosemond highlighted the project's challenges, including delays caused by the city’s decision to manage infrastructure improvements, which added 17 months to the timeline. Despite these setbacks, four units have already been sold, but the remaining 11 are at risk due to a lack of buyers and rising construction costs. The developer proposed that the FPRA fund the construction of these unsold units, allowing for a quicker completion and repayment upon each unit's sale.

The meeting also addressed the need for increased homebuyer assistance, as current city programs have seen low participation. Rosemond emphasized that enhancing these programs is vital for attracting eligible buyers and ensuring the project's success. The FPRA is expected to consider the funding proposal, which could significantly impact the local housing market and support first-time homebuyers in Fort Pierce.