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‘It’s going to happen:’ Woman hopes to build more affordable homes in 32771 ZIP code

Kim Fogle first cashed in 401(k) in 2021 to build 10 affordable homes

SANFORD, Fla. – Whether it’s in the 32771 ZIP code or across Central Florida, finding affordable housing is a huge challenge for a lot of people.

In 2021, News 6 introduced you to a woman who cashed in her 401(k) in order to build affordable housing in 32771. Today, she’s back at it and ready to build even more homes in Sanford.

When we first met Kim Fogle, her first 10 units of affordable housing we’re under construction. Fogle was the recipient of the News 6 Getting Results Award in 2021. At the time, she had cashed in her retirement savings to start the nonprofit organization, Central Florida Home For Good. Fogle was no expert in construction, just someone who’d volunteered with homeless services and saw the need firsthand.

She said her first development, called Sanford Courtyard, has been a booming success. Today, all 10 apartments are fully occupied. Fogle said each home consists of two bedrooms and one bathroom. Each unit is also fully furnished and built for the working poor.

“(These residents) are people who are what we call kind of stuck in between a rock and a hard place,” Fogle said. “They didn’t qualify for any public assistance, whether that’s food assistance, health care or housing, but yet they can’t afford the typical apartment.”

So what is affordable? The U.S. Department of Housing and Urban Development defines affordable housing as 30% or less of your income. Fogle’s tenants pay about $1,000 a month in rent.

“As you all have reported, a lot of rents have increased substantially,” Fogle said. “I don’t know about you, but I couldn’t handle a $300 or $400 increase per month.”

Fogle has now set her sights on the lot next door, phase 2 as she calls it, with hopes to build 10 more affordable homes.

“It’s working,” Fogle said. “There’s so many more people like this demographic.”

Fogle already owns the land next door but since she already used up her 401(k) for the first 10 homes, she’s now looking for $1 million in donations to build the next 10 homes.

“The money is coming in every month, so it’s going to happen,” Fogle said.

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