Cathy Bennett July 12, 2010

Housing Initiative supporting a full range of housing choices

Our Call to Action ULI Minnesota actively engages public and private sector leaders to foster collaboration, share knowledge and join in meaningful strategic action to create thriving, sustainable communities . 7/12/2010

ULI MN/Regional Council of Mayors
Mayors from 34 municipalities in 6 metro counties, including core cities, developed and developing suburbs.
Collaborative, non-partisan.
Focused on actions to raise the region’s overall innovation, economic competitiveness and quality of life.

Housing Initiative
Mission – Partnering to implement tools & strategies that support a full range of housing choices - a diverse mix of housing types, sizes and prices within the region, within cities and within neighborhoods – for economic stability and regional prosperity .
7/12/2010
Financial support from the Family Housing Fund

Gen Y represents the greatest magnitude and spending power Overall, it is estimated that Gen Y influences “as much as half of all spending in the U.S. economy” Over 35% of Gen Ys households earn above $1.6 trillion They represent In earning power Represents almost 30% of today’s population $75,000 Over Gen Ys today (1979-96) Baby Boomers (1946-64) million ~ 75 Robert Charles Lesser & Co. LLC. 7/12/2010 million 80

Gen Y seeks diversity, walkability, and proximity to jobs Gen Y will shift toward homeownership in 2012 In-town areas and inner suburbs will remain on an upward trajectory 2/3 say that living in a walkable community is important 1/3 will pay more to walk to shops, work, and entertainment Robert Charles Lesser & Co. LLC. 7/12/2010

7/12/2010 Opportunity City Program

Housing Initiative - Community Change Reports Key Metro Area Themes Emerged – through Pilot Program lack of housing options 7/12/2010 Minneapolis - St. Paul 1 st Ring Suburbs Minneapolis - St. Paul Southern Suburbs Minneapolis - St. Paul 2 nd Ring Suburb First ring suburban regeneration Attracting move-up households Affordable homes More housing choices

Where are residents working and where are workers living? 7/12/2010 Source: US Census Bureau (LEHD )

Best Practices/Technical Assistance Housing Initiative 7/12/2010

Raise Awareness – connection between jobs, housing & transportation options Housing Initiative
Cost Calculator -partner to expand use and efficiency in local decisions.
Southwest LRT Corridor – Collaborate on Corridor Wide planning .

Local Response Decision-makers are implementing changes based on audit findings, data analysis, and best practices provided by the Opportunity City Program . 7/12/2010 “ It concerns us that only 20 percent or our residents are able to stay in the city. We need to do a better job of making people aware of the affordable housing options that we have in the community and work toward developing programs that benefit the first time home buyers." Sandy Martin, Shoreview Mayor

More Information Cathy Bennett [email_address] 612-670-8147 http://minnesota.uli.org/

Cathy Bennett July 12, 2010

by National Housing Conference & the Center for Housing Policy on Jul 13, 2010

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Cathy Bennett July 12, 2010 — Presentation Transcript