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Housing Study Panel Presentation 11.19.12

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  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • Married couples headed 76% of the families in 1970. By 2010 only 51% were headed by married couples. In 2010, 40% were headed by single females who, generally, have lower incomes.
  • The following charts show the aging of the Baby Boomers from 1990 to 2010. There is an “Echo Boom” cohort in the 20-34 year olds. Stymied currently by the Great Recession, this age group will begin to play a powerful role in the housing market. Chattanooga: gen Y : 28%, countywide: 26% Race: non-white chatt: 42% ,countywide: 26%
  • There is a clear increase in townhome and condo sale trends coupled with the decline in the number of single family detached home sales
  • MLS home sales prove that while the single family detached home sales greatly outnumber the sales of condos and townhomes there has been a definite increase in the percent of condo and townhome purchases
  • While the average sale price of all homes has increased by 38%, sales prices on condos have risen by107% from 2000.
  • 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 SF Detached 1,203 1,250 1,377 1,686 1,671 1,755 1,611 1,346 531 291 745 691 Townhome 26 69 31 66 145 389 338 207 50 110 84 64 Condo 0 20 16 8 36 0 110 257 0 0 0 0 Apt 51 440 37 856 24 149 255 733 0 323 342 167
  • “ People have always wanted to be convenient to amenities. The better schools may be more important because most of the schools seem to be getting worse.” “ We need to look at the social side of life, encourage people to meet.” I feel as if people are wanting more amenities and opportunities to get out and meet their neighbors. people need convenience. Close to everything - shopping, Schools, groceries, restaurants & health care convenience to work & schools Close to work/downtown , most now like to be close to downtown
  • MHouse type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • MHouse type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • MHouse type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • The National Association of Home Builders (NAHB) recently ranked Chattanooga 128 th in affordability out of 225 MSAs. It was 40 th in the region. According to the 2010 census, a high percentage of Chattanooga low income households are spending over 30 percent of their income on housing.
  • .
  • People who live in location-efficient neighborhoods—compact, mixed use, and with convenient access to jobs, services, transit, and amenities—tend to have lower transportation costs. People who live in location inefficient places that require automobiles for most trips are more likely to have high transportation costs. household transportation costs are highly correlated with urban environment characteristics, when controlling for household characteristics. was constructed at the Census block group level
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • The TIPIF provides assistance to significant projects that are anticipated to anchor revitalization efforts. The County decides if projects qualify for TIPIF assistance by reviewing the amount of private investment, type of development, community benefit, ability of public investment to leverage continued private investment, and the likelihood of the project benefitting from public infrastructure investment. The Columbia Center project at the intersection of Columbia Pike and Walter Reed Drive was the first project to take advantage of the public funding offered as part of the TIPIF. The tool leverages future tax revenues to allow the private investment that will generate those revenues to take place in the present. The Rehabilitation Tax Exemption was established as part of the ongoing concern for historical property on the Pike corridor and gives tax breaks to owners of historical property in excess of former limits. The Technology Zone is located in the Town Center area of Columbia Pike and offers qualifying technology businesses a 50 percent reduction in Business Professional Operational License taxes for a period of up to 10 years. The Small Business Assistance Network and Parking strategy also aid in attracting private development and investment. The Assistance Network offers counseling, research, and education to small businesses while the Parking Strategy encourages shared parking through public participation.
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • House type Location of development Size: house, lot & yard Amenities Rental property Overall affordability Data Sources Demographic data Surveys MLS data Zoning / Subdivisions database Land use database
  • Transcript

    • 1. Panel Discussion:Key Findings and Draft Recommendations November 19, 2012
    • 2. Team IntroductionJohn Bridger, Executive DirectorYuen Lee, Project leadSue KnappTim MorelandAleeta Zeller
    • 3. City Housing Study MainObjectivesCharacterize current and future housingdemandCharacterize the housing supply withinChattanooga City limits / Hamilton CountyCreate a Framework for Action
    • 4. Meeting Flow AgendaPart I: Presentation of study findings on how the housing market is changing Panel Discussion followed by a few questions from the audiencePart II: Presentation of draft recommendations across four focus areas followed by a few questions Panel Discussion from the audiencePart III: Public Feedback: Break into stations
    • 5. HOUSING SYSTEM PRIMER Housing – Part of a Place that Supports a Lifestyle The Housing Market Players Key National Trends in Housing that will impact Chattanooga
    • 6. Housing - Part of a Place that Supports a LifestyleUrban Places Lifestyle Traits  Residential,  Live, Work, Shop, Play in clos clo Commercial, Civic, Industrial in close proximity  Neighborhoods have  Diverse social environment a mix of housing types on small lots  Grid street network  Walk, bike, transit, car that distributes traffic, supported by transit
    • 7. Housing - Part of a Place that Supports a LifestyleSuburban Places Lifestyle Traits  Residential,  Neighborhood seclusion Commercial, Civic, Industrial separated  Neighborhoods  Predictable social defined by a environment single housing type  Limited street  Drive to work, play, shop network defined by hierarchy
    • 8. Housing Market – The PlayersCONSUMER CONNECTOR SUPPLIERBUYER/ RENTER  REALTOR  PRIVATE  PUBLIC/ BUILDER/ PRIVATE DEVELOPE CAPITAL R  RENTAL PROPERTY MANAGER  CHATTANOOGA HOUSING AUTHORITY  NON-PROFIT PUBLIC POLICY/ CODES ORGANIZATION PUBLIC POLICY/CODES
    • 9. Housing Primer Key Questions: How are our lifestyles changing? How is the housing market changing? What does this mean for housing in urban and suburban places?
    • 10. Housing – Key National Lifestyle TrendsDRIVERS OF HOUSING DEMAND
    • 11. Housing – Key National Lifestyle TrendsGENERATION Y largest generation in U.S. history, nearly ¼ of US population and will continue to grow with immigration Ethnically more diverse, more likely to have grown up in metro area Just starting to form households; household formation will accelerate over time
    • 12. Housing – Key National Lifestyle TrendsGENERATION Y – Lifestyle/Housing Preference ULI Survey of 18 – 32 age group: 38% currently rent, 36% currently own, 26% currently live with family or in student housing * 2/3 favor living where they can experience shopping and social gathering places within walking distance of home * 22% expect to walk, bike or use transit * Will be looking for their first home, but not like their parents’ ** Sources * Generation Y: America’s New Housing Wave, ULI Foundation, 2011 ** Generation Y in the Market Place, Robert Charles Lesser & Co, 2009
    • 13. Housing – Key National Lifestyle TrendsBABY BOOMERS & SENIORS Baby Boomers, 46 - 64years old, 76 million strong, transitioning to 65+ 65 + Population expected to grow 120% by 2050, reaching 1/5 of US Population Sources * Housing an Aging Population, Are We Prepared?, Center for Housing Policy, April 2012 ** Housing in America, The Baby Boomers Turn 65, ULI Foundation, 2012
    • 14. Housing – Key National Lifestyle TrendsBABY BOOMERS & SENIORS: Lifestyle/HousingPreference Highest homeownership rate (80%) among all generations and most likely to live in suburbs ** More than 80% want to stay in their home.. “Age in Place” desire to stay in their home as long as possible* Challenge – adapting homes/communities to their changing needs * Implications – home modification, multi-generational housing, senior assisted living, alternativeSources transportation, greater demand for* Housing an Aging Population, Are We Prepared?, Center for Housing Policy, community facilities nearby **April 2012
    • 15. Housing – Key Economic TrendsHE “NEW NORMAL” ECONOMY AND AFFORDABILITY Households are more stressed financially, while housing costs continue to rise
    • 16. Housing – Key Economic TrendsHE “NEW NORMAL” ECONOMY AND AFFORDABILITY The Impact of affordability is even more severe for low to moderate income families
    • 17. Trends in the Local ChattanoogaHousing Market Demographic Trends - Census Market – Building Data Surveys of Builders & Realtors Focus Groups: residents, neighborhoods, non-profit housing group, LDO & Neighborhood Services
    • 18. Demographic Trends Families with Children Chattanooga 1970 2010 Married Couple Single Father Families Single Mother Families
    • 19. Demographic Trends Chattanooga BOOMERS BOOMERS GEN Y BABY BABY
    • 20. MLS data – number of home sales Single Family Detached 4664 3550 3183
    • 21. MLS data – housing type
    • 22. MLS data – sale price Average Sale Price % change TOTAL 38.3% Condo 107.1% Townhouse 57.9% SF Detached 36.1% $ 213,086 $ 185,158 $ 178,482 $ 176,333 $ 129,568 $129,036 $ 117,269 $ 102,885
    • 23. Building Permits Townhouse, Condo, Single Duplex, Apartment Family Detached
    • 24. Survey – Projected Demand Realtors Builders
    • 25. Survey – Buyer Home Preferences RealtorsBuilders
    • 26. Survey – Neighborhood Amenities Realtors Builders
    • 27. Survey – Community Amenities
    • 28. Gaps in HousingHousing Choice “Focus on age related communities - match with their needs- its about lifestyle now, not just a house” “More condo/townhome living with amenities” “More quality housing but smaller in size” “Build closer in to work, schools and shopping due to gas costs”
    • 29. Gaps in Housing Finance “Credit and appraisals remain difficult” “Difficulty of obtaining funding sours some, causing them to continue renting” “lack of construction and mortgage financing”
    • 30. Gaps in Housing Affordability “Demand for lower-priced new homes is increasing” “Affordable ‘quality’ housing within the urban Chattanooga” “More affordable starter family homes in the Ooltewah area” “Affordable housing options aren’t zoned for the better rated schools” “Affordable housing options not very close to services”
    • 31. Gaps in HousingRegulations “Allow more mixed use in terms of housing type and commerce type” “Better zoning options for urban residential” “Change zoning regulations to reflect change in demographics” “Allow smaller street widths and less stormwater issues”
    • 32. Codes and RegulationsENFORCEMENT “Exceed current building codes in construction, after all, codes are a minimum, and people want better” “Make owners of the abandoned homes to be accountable for either tearing them down or maintain them” “Enforcing people to maintain the exterior appeal of their home” “Consistency with requirements and enforcement”
    • 33. Affordability
    • 34. Affordability - RENTALChattanooga Median Household Income $32,791 Monthly Gross Income $2,733  Income available for monthly gross housing cost (30%) $820   Monthly utility cost $200    Gross Income available for monthly rent $620       Chattanooga Median Gross Rent   $685  Chattanooga average rent for apartment   $732     Housing Cost Burden $112 -    $65   # of household with income less than $35,000  37,033      Source: 2011 ACS 1-year Estimates www.aptindex.com
    • 35. Affordability - OWNERSHIPChattanooga Median Household Income $32,791 Monthly Gross Income $2,733  Monthly Debts $500  Expected Down Payment $10,000    Interest Rate for 30- year Mortgage  3.8%   Home Insurance $480  Property Tax   $1,100  Annual Mortgage Insurance   $600 Affordable Home Amount    $90,000  All MLS Properties   1,098 Properties $100,000 or less MLS  325   MLS Properties $75,000 or less  220   Average Housing Cost per sq ft  $110    Affordable Housing S ize   820 Source: 2011 ACS 5-year Estimates, http://cgi.money.cnn.com , www.bankrate.com, www.century21.com, http://www.mlsarealistings.com http://www.nahb.org
    • 36. Affordability – housing burden All Owners Renters Source: 2006-2010 American Community Survey 5-Year Estimates, B25106
    • 37. Affordability Owners Renters Source: 2006-2010 American Community Survey 5-Year Estimates, B25106
    • 38. Household Income Less than $20,000
    • 39. AffordabilityHousing Cost: 30% of a householdincomeTransportation Cost: 15% of household incomeTrue affordabilityHousing + Transportation Cost: 45% ofhousehold income
    • 40. PANEL FEEDBACK/DISCUSSION
    • 41. CHALLENGE – ADAPTING OUR PLACES TO OUR CHANGING LIFESTYLES & NEW ECONOMIC REALITIES WHAT IS OUR SUBURBAN STRATEGY? WHAT IS OUR URBAN STRATEGY? HOW DO WE INCREASE THE SUPPLY OF AFFORDABLE HOUSING? HOW DO WE ELIMINATE BARRIERS TO INFILL HOUSING DEVELOPMENT?
    • 42. Feel free update as you see fit.Housing StudyRecommendationsSetting a Course for ACTION
    • 43. Setting a Course for Action… Key Principles: Strategies should be place-based and informed by anticipated changing lifestyle needs in those places Strategies should reflect the connection between housing, schools, transportation, employment, public health, recreation that shape our quality of life Strategies should address the needs of the entire housing spectrum (incomes and housing types) Strategies should take into consideration the entire housing delivery system in meeting those needs Strategies should target private, public and public-private opportunities to achieve housing objectives Benchmarks should be established to track progress in meeting housing strategy objectives
    • 44. Setting a Course for Action… Action Focus Areas: SUBURBAN STRATEGY URBAN STRATEGY AFFORDABLE HOUSING STRATEGY ALIGN CODES/POLICIES TO PROMOTE URBAN INFILL AND AFFORDABILITY
    • 45. Setting a Course for Action… SUBURBAN STRATEGY
    • 46. SUBURBAN STRATEGY Key Observations  City’s Suburban Areas - limited remaining large vacant developable sites for housing development  While the current suburban development pattern continues to be focused on separation of housing types, our lifestyles are changing  Higher density infill development proposals within established suburban neighborhoods have been more controversial and challenging to implement
    • 47. SUBURBAN STRATEGY - Ideas for Action Modify City codes to accommodate multi-generational housing through accessory apartment units
    • 48. SUBURBAN STRATEGY - Ideas for Action Tool In Focus – Santa Cruz, CA ADU Ordinance/ Program KEY ELEMENTS Property owner must live at the same address as the ADU and only one ADU per single-family lot is allowed. Minimum Lot size: 5,000 square feet Development fees are waived for ADUs made available for low- and very-low- income households Offers discounted loans for conversion to ADU in return for affordability covenants
    • 49. SUBURBAN STRATEGY - Ideas for Action Tool In Focus – Santa Cruz, CA ADU Ordinance/ Program  Provides guidance on the location and design of accessory apartment units to promote neighborhood compatibility
    • 50. SUBURBAN STRATEGY - Ideas for Action  Identify areas for moderate/high density development in close proximity to major activity centers and connected to existing transit service  Consider establishing a land bank for blighted/vacant strip centers  Develop an appropriate basket of density bonuses, tax incentives, development fee reductions, public infrastructure reductions improvements
    • 51. SUBURBAN STRATEGY - Ideas for Action Tool In Focus – Columbia Pike Form-Based Code, Arlington Co, VA 1986 – residents and business owners formed Columbia Pike Revitalization Organization (CPRO) in response to disinvestment in the area 2002 – developed a redevelopment plan for the area 2003 – following year, codified the plan recommendations into a special district that used form-based code approach 2003 – code was voluntary, but the government offered expedited review and tax increment financing for projects that used the code
    • 52. SUBURBAN STRATEGY - Ideas for Action The incentives: 1) Expedited approval process 30-60 days 2) 30 day by-right approval (no public hearings) for projects under 30,000 sq ft 3) Eligible for Tax Increment Public Infrastructure Fund (TIPIF) – had to be an anchor development  a Rehabilitation Tax Exemption, and  Technology Zone: technology businesses get 50% reduction in business license tax for up to 10 years Since program’s inception, area has seen $500 million in development including townhomes, several mixed use developments and a new grocery store
    • 53. SUBURBAN STRATEGY - Ideas for Action  Create a guide for developing moderate density projects in established suburban neighborhoods.
    • 54. SUBURBAN STRATEGY - Ideas for Action  Develop an appropriate public review process for moderate density infill rezoning requests KEY ELEMENTS  Site context analysis  Meet with Residents prior to application submittal  Elevation drawings
    • 55. Setting a Course for Action… URBAN STRATEGY
    • 56. URBAN STRATEGY - Key Observations Opportunities  Urban areas have the potential to offer the urban lifestyle sought by Gen Y and some aging boomers  The addition of more high density housing, particularly in/near downtown is a critical component to attracting more retail and other attractions to the downtown area  Urban areas generally have better access to support services than suburban areas, better connected with public transportation, making them more suitable for affordable housing
    • 57. URBAN STRATEGY - Key Observations Challenges  Urban areas have a number of vacant properties but they tend to be scattered, encumbered by brownfield challenges  There are limited locations in Chattanooga’s urban areas that have healthy markets to entice private investment  Not all urban neighborhoods are the same; each neighborhood has a unique mix of housing types. Some neighborhoods have struggled with proliferation of duplexes, which has fostered a resistance to moderate duplexes  Perceptions about crime and under-performing schools density can be significant deterrents to forming healthy housing markets
    • 58. URBAN STRATEGY - Ideas for Action  Establish a policy for urban neighborhoods that defines the desired mix of housing types as a guide to inform future housing development
    • 59. URBAN STRATEGY - Ideas for ActionStrengthen Urban Neighborhoods  Implement a targeted neighborhood revitalization strategy that engages public, private and philanthropic sector  Seek an opportunity to partner with Hamilton County schools to identify more targeted urban school  improvement projects City’s Gang Task force initiative Continue to support the
    • 60. URBAN STRATEGY - Ideas for ActionConnecting buyers/renters with urban housing  Partner with the Realtor community to develop a marketing/ communications tool  Recruit major urban employers to provide incentives for their employees to live in nearby neighborhoods
    • 61. URBAN STRATEGY - Ideas for Action Cleaning up blight  Reduce number of highly visible blighted structures: allocate more resources to Neighborhood Services for blight removal 2007 Residential Property Survey Of 11,965 residential buildings surveyed in 18 urban City neighborhoods:  8,084 are in need of minor or major repairs 135 dilapidated buildings appearing to be unfit for human habitation.
    • 62. URBAN STRATEGY - Ideas for Action Targeted redevelopment – informed by a building-form revitalization plan, specific housing outcomes, implemented through public-private partnerships  Formalize an urban land banking and redevelopment SOUTHSIDE/ COW ART PLACE program that assembles distressed properties, and incorporates financial incentives for their redevelopment  Target locations for higher density, mixed income housing along established key transit corridors, and in close proximity to downtown UTC SOUTH CAMPUS UTC SOUTH CAMPUS
    • 63. Setting a Course for Action… AFFORDABLE HOUSING STRATEGY
    • 64. AFFORDABLE HOUSING STRATEGY Key Observations  There is a growing need for affordable housing among low and moderate income households  Gen Y, the largest demographic will need both affordable rentals and reasonably priced first time homes  Some development requirements and fees (permitting, sewer tap, infrastructure repairs) contribute to the added cost of housing  There is a resistance to affordable housing, particularly for low-income households, in established neighborhoods  There are a significant number of existing homes in urban areas that are low priced, but need substantial rehab  There are very few locally based affordable rental housing builders/managers, particularly at any large scale
    • 65. AFFORDABLE HOUSING STRATEGY - Ideas for Action  Propose definition of “affordable and livable housing”  Establish a baseline and set specific targets  Adopt a City Policy that supports affordable housing throughout the City and endorses a mixed-income approach
    • 66. AFFORDABLE HOUSING STRATEGY - Ideas for Action  Establish an Affordable Housing Trust  Establish a home rehab fund for first time homebuyers
    • 67. AFFORDABLE HOUSING STRATEGY - Ideas for Action Tool In Focus – Affordable Housing Trust of Columbus/ Franklin County, OH MISSION: to focus on the facilitation, production, rehabilitation and preservation of workforce and low income housing.  not-for-profit housing finance corporation formed in 2001 by the  makes a variety of loans City of Columbus and Franklin to private and non-profit County developers to finance acquisition, construction and bridge loans  provides technical help and pre-development research to mitigate financial risk
    • 68. AFFORDABLE HOUSING STRATEGY - Ideas for Action Tool In Focus – Affordable Housing Trust of Columbus/ Franklin County, OH IMPAC TSince inception, facilitated the creation or preservation of over 6,000 housing units in Columbus and Franklin County.  In 2011, made new loan commitments totaling over 6.75 million dollars, dollars which will help to finance more than 523 new or rehabilitated housing units  In 2012, provided $1 million construction loan for 100-unit permanent supportive housing initiative targeted for formerly homeless individuals and low income individuals
    • 69. AFFORDABLE HOUSING STRATEGY - Ideas for Action Public Policy  Introduce a portfolio of incentives such as fee reductions and density bonuses for housing developments that include affordable units  Projects over a certain size that do not incorporate affordable housing would pay a fee into a housing trust fund that would support affordable housing efforts  Develop local public and non-profit capacity to build and manage affordable rental housing
    • 70. Setting a Course for Action… ALIGNING CODES/ POLICIES STRATEGY
    • 71. ALIGN CODES/ POLICIES STRATEGY - Key Observation  Most of the remaining undeveloped sites in Chattanooga are small and have environmental constraints  Current zoning standards/code requirements limit the ability of developers to mix housing types and build more compactly
    • 72. ALIGN CODES/ POLICIES STRATEGY - Ideas for Action  Offer reduced/eliminated fees, streamlined review, density fees bonuses for projects that incorporate affordable housing in targeted policy areas  Review subdivision code and street standards to eliminate site engineering requirements that unnecessarily impact cost of housing and the “footprint” of disturbed site area (street widths, turn-around design, grading, minimum lot size, swales vs. curb)
    • 73. ALIGN CODES/ POLICIES STRATEGY - Ideas for Action  Update zoning codes to allow more diversity in range of housing types and lot sizes  For targeted areas, develop an infill development loan fund/public capital institution  Set up a vacant lot “clearinghouse” database Co-Housing Live-Work Housing Units
    • 74. WRAP-UP KEY POINTS  Clearly define the desired housing outcomes and how they will be measured  Implement strategies based on place AND neighborhood context, preferably in the context of a specific revitalization plan  Combination of design controls and financial incentives are key to successful outcomes  Codes/standards should accommodate more diversity of housing and street types to provide more flexibility in meeting changing demand
    • 75. PANEL FEEDBACK/DISCUSSION
    • 76. http://www.chcrpa.org/housingstudy.h tm THANK YOU.