LAKE COUNTY, Fla. — An affordable housing initiative is revitalizing an older Polk County community.

This movement was celebrated last week with a ribbon cutting in Lake Wales, which welcomed two families into their new homes.

The project manager responsible for spearheading change in the area said things like this has a positive effect on their entire community.

“It helps the property value increase,” said Darrell Starling, Lake Wales' CRA Project Manager. “That’s contributing back to the overall city. You would want these affordable housing initiatives to happen on vacant property.”

The city of Lake Wales partnered with Keystone Challenge Fund to build the homes and then paid $10,000 for the lots. The city also paid an additional $30,000 to cover closing costs.

Each of the properties are valued at $175.000 but the new homeowners who spoke with Spectrum Bay News 9 say the change is priceless.

“We just have much more space and the process with Keystone Challenge Fund was really great,” said Latonshia Smith. “We saw the signs hanging up on a Friday and I spoke to them Monday.”

“We have own driveway, our own mail box,” said her husband.

He and his family lived in a less affluent neighborhood, not too far from his new home for four years.

Lake Wales officials say the project will generate about $10,000 in tax increment funding over a three-year period.

“We are committed to putting that money back into redevelopment,” said Lake Wales city manager James Slaton.