Denver 9/28 Melinda Pollack

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Presentation from Partners in Innovation Policy Forum in Denver, CO on September 28, 2010.

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Denver 9/28 Melinda Pollack

  1. 1. Preserving Affordable Housing Near Transit Case Studies from Atlanta, Denver, Seattle and Washington, D.C. Sept. 27, 2010
  2. 2. Preserving Affordable Housing Near Transit  Collaboration with NHT and Reconnecting America  Studied TOD in Atlanta, Denver, Seattle and Washington, D.C.  Identified 12 properties that successfully accessed new capital/funds to preserve affordable housing in planned TOD projects  Download a copy of the report: www.greencommunitiesonline.org/TOD 2
  3. 3. Key Findings From the Report  Leveraging new sources of capital subsidy, local zoning incentives and pooled financing  Seeking flexible acquisition financing to hold properties until financing is available  Securing unsubsidized rental housing near planned transit  Engaging in collaboration with housing, transit and planning agencies 3
  4. 4. TOD Opportunities in Atlanta  MARTA guidelines  Housing Opportunity Bond program  Beltline Affordable Housing Trust  Tax credits  Land Banking Authority 4
  5. 5. TOD Opportunities in Denver  TOD acquisition fund  $19 million in NSP2 funds  Affordable Housing Policy to govern land disposition and joint development 5
  6. 6. TOD Opportunities in Seattle  $145 million housing levy  Rainier Valley Community Development Fund  Incentive zoning programs  Washington Works program 6
  7. 7. TOD Opportunities in Washington, D.C.  Housing Production Trust Fund  Bridge lending resources  Tenant Opportunity to Purchase Act  Tax-exempt bond financing with 4% LIHTC  Greater Washington 2050 7
  8. 8. Preservation Strategies in Atlanta Property:  Wheat Street Gardens Strategies:  Targeting at-risk properties near transit  Targeting physically distressed properties 8
  9. 9. Preservation Strategies in Denver Property:  Jody Apartments Strategies:  Acquisition of land/buildings prior to price appreciation  Land banking 9
  10. 10. Preservation Strategies in Seattle Property:  Brewster Apartments Strategies:  Zoning incentives  New funding for rehab  Acquisition & targeting at-risk properties 10
  11. 11. Preservation Strategies in Washington, D.C. Properiy:  Martin Luther King Jr. Latino Cooperative Strategies:  Tenant laws  Pooled financing  Targeting at-risk properties 11
  12. 12. Taking on the Challenge in Your Community  Take an affordable inventory  Identify acquisition resources  Asses repositioning resources  Map out strategic partnerships 12

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