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9/28 Ed Stromberg


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

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9/28 Ed Stromberg

  1. 1. Regional Perspectives on the Federal Approach to Preserving Affordable Housing Near Transit Denver, Co Tuesday 28, 2010 Edwin Stromberg Disclaimer: I thank everyone inside and outside of HUD who provided me with information, data and guidance; but I am solely responsible for the use and interpretation of the data provided.
  2. 4. Walk Score ® <ul><li>What is a walk score? </li></ul><ul><li>A Walk score measures how walkable an address is to various amenities. </li></ul><ul><li>How is it measured? </li></ul><ul><li>Each amenities is given a point number and is awarded point depending on how close they are to the amenities. Full points for .25 mile or less and Zero points for over a mile. </li></ul>
  3. 5. Walk Score ® <ul><li>What are the amenities are in the walk score? </li></ul><ul><ul><li>Schools </li></ul></ul><ul><ul><li>Grocery store </li></ul></ul><ul><ul><li>Shopping areas </li></ul></ul><ul><ul><li>Parks </li></ul></ul><ul><ul><li>Post offices </li></ul></ul><ul><ul><li>Banks </li></ul></ul><ul><ul><li>and more </li></ul></ul>
  4. 6. Walk Score ® <ul><li>Limitations of Walk scores methods: </li></ul><ul><ul><li>Distance is measured as the crow flies and does not take actual walk distance into account. </li></ul></ul><ul><ul><li>Does not account for quality of life in the algorithm. </li></ul></ul><ul><ul><li>Does not concern the size and quality of the stores. </li></ul></ul>
  5. 7. Transit Score ® <ul><li>What is a Transit Score? </li></ul><ul><ul><li>It measures the “usefulness” of the transit system (rail, bus, etc.) to a given address </li></ul></ul><ul><li>How is a Transit Scores calculated? </li></ul><ul><ul><li>Distance to transit </li></ul></ul><ul><ul><li>Schedule and frequency of transit </li></ul></ul><ul><li>How many locations have transit score </li></ul><ul><ul><li>57 cities </li></ul></ul>
  6. 8. Transit Score ® <ul><li>Limitations of Transit scores methods: </li></ul><ul><ul><li>Only 57 cities have transit score. </li></ul></ul><ul><ul><li>Commute times are the considered. </li></ul></ul><ul><ul><li>Were the transit goes </li></ul></ul>
  7. 9. Scoring Transit Score Description 90–100 Rider's Paradise — World-class public transportation. 70–89 Excellent Transit — Transit is convenient for most trips. 50–69 Good Transit — Many nearby public transportation options. 25–49 Some Transit — A few nearby public transportation options. 0–24 Minimal Transit — It is possible to get on a bus. Walk Score Description 90–100 Walker's Paradise — Daily errands do not require a car. 70–89 Very Walkable — Most errands can be accomplished on foot. 50–69 Somewhat Walkable — Some amenities within walking distance. 25–49 Car-Dependent — A few amenities within walking distance. 0–24 Car-Dependent — Almost all errands require a car.
  8. 10. Programs <ul><li>FHA Green Retrofit </li></ul><ul><li>M2M Green Initiative </li></ul><ul><li>FHA Mark to Market </li></ul><ul><li>202 and 811 </li></ul><ul><li>HOPE VI </li></ul><ul><li>HOME </li></ul><ul><li>220 </li></ul>
  9. 11. Methodology <ul><li>I use the whole data set when possible </li></ul><ul><li>I selected a random sample from the HUD database for the data sets that were large. </li></ul><ul><li>Input the data into </li></ul><ul><li>Score the score based on scoring systems. </li></ul>
  10. 12. FHA Green Retrofit <ul><li>Recovery Act’s Green Retrofit Program for Multifamily Housing provide funding for green retrofits on affordable housing properties. </li></ul><ul><li>Total number of projects: 167 </li></ul><ul><li>Total cost of the program:$138 million </li></ul><ul><li>Total number of units: 13,060 </li></ul><ul><li>These number includes the entire Green Retrofit through 2009 </li></ul><ul><li>Sample size: All </li></ul>
  11. 13. FHA Green Retrofit Walk Scores Walker's Paradise 8.38% Very Walkable 29.34% Somewhat Walkable 32.93% 70.66% Car-Dependent 20.96% Very Car-Dependent 8.38% 29.34%
  12. 14. FHA Green Retrofit Transit Scores * Only 12.6% of sample transit score Rider's Paradise 5 14.71% Excellent Transit 9 26.47% Good Transit 8 23.53% 64.71% Some Transit 12 35.29% 35.29%
  13. 15. FHA Mark to Market <ul><li>Mark to Market program is meant to preserve low-income affordability by: </li></ul><ul><ul><li>Reduce rent in projects </li></ul></ul><ul><ul><li>Restructure mortgage so it could be support by reduce rent </li></ul></ul><ul><ul><li>Rehab project </li></ul></ul><ul><li>Total number of projects: 1,177 </li></ul><ul><li>Total programs investment: $335 million </li></ul><ul><li>Total number of units: 98,660 </li></ul><ul><li>These number includes the entire Mark to Market through 2009 </li></ul><ul><li>Sample size: 373 </li></ul>
  14. 16. FHA Mark to Market Walk Scores Walker's Paradise 5.63% Very Walkable 19.03% Somewhat Walkable 21.98% 46.65% Car-Dependent 35.39% Very Car-Dependent 17.96% 53.35%
  15. 17. FHA Mark to Market Transit Scores * Only 12.6% of sample transit score Rider's Paradise 31.91% Excellent Transit 23.40% Good Transit 25.53% 80.85% Some Transit 19.15% 19.15%
  16. 18. M2M Green Initiative <ul><li>Mark to Market Green Initiative program is meant to preserve low-income affordability with green improvements by: </li></ul><ul><ul><li>Reduce rent in projects </li></ul></ul><ul><ul><li>Restructure mortgage so it could be support by reduce rent </li></ul></ul><ul><ul><li>Rehab project </li></ul></ul><ul><li>Total number of projects: 15 </li></ul><ul><li>Total programs investment: $7.5 million </li></ul><ul><li>Total number of units: 1,278 </li></ul><ul><li>Sample size: ALL </li></ul>Very Walkable 40.00% Somewhat Walkable 26.67% 66.67% Car-Dependent 20.00% Very Car-Dependent 13.33% 33.33%
  17. 19. 202 and 811
  18. 20. 202 and 811 Walk Scores Walker's Paradise 5.31% Very Walkable 15.49% Somewhat Walkable 32.74% 53.54% Car-Dependent 31.42% Very Car-Dependent 15.04% 46.46%
  19. 21. 202 and 811 Transit Scores * Only 12.8% of sample transit score Rider's Paradise 17.24% Excellent Transit 13.79% Good Transit 27.59% 58.62% Some Transit 34.48% Minimal Transit 6.90% 41.38%
  20. 22. HOPE VI <ul><li>HOPE VI program eliminates severely distressed public housing projects by providing fund for: </li></ul><ul><ul><li>Demolition </li></ul></ul><ul><ul><li>Major reconstruction </li></ul></ul><ul><ul><li>Rehabilitation </li></ul></ul><ul><ul><li>Replacement housing </li></ul></ul><ul><ul><li>Management improvements </li></ul></ul><ul><ul><li>Etc. </li></ul></ul><ul><li>Total number of projects: 239 </li></ul><ul><li>Sample size: All </li></ul><ul><li>Total number of units: 102,227 </li></ul><ul><li>The number includes the entire HOPE VI program </li></ul>
  21. 23. HOPE VI Walk Scores Walker's Paradise 12.92% Very Walkable 34.17% Somewhat Walkable 30.42% 77.50% Car-Dependent 17.92% Very Car-Dependent 4.58% 22.50%
  22. 24. HOPE VI Transit Scores * Only 30.8% of sample transit score Rider's Paradise 16.22% Excellent Transit 21.62% Good Transit 50.00% 87.84% Some Transit 10.81% Minimal Transit 1.35% 12.16%
  23. 25. HOME <ul><li>The HOME program provides money enable afford housing for low income and very low income families by: </li></ul><ul><ul><li>Helping with down payments </li></ul></ul><ul><ul><li>Tennant-based assistance </li></ul></ul><ul><ul><li>Housing rehab </li></ul></ul><ul><ul><li>Assistance to homebuyers </li></ul></ul><ul><ul><li>And new construction of housing </li></ul></ul><ul><ul><li>Etc. </li></ul></ul><ul><li>Total number of projects: 1,415 </li></ul><ul><li>Total value of the projects: $1.5 Billion </li></ul><ul><li>Total number of units: 37,744 </li></ul><ul><li>These number includes all the HOME rental projects through 2009 ( 80% of projects are 20 unit or greater) </li></ul>
  24. 26. HOME Walk Scores Walker's Paradise 41.75% Very Walkable 39.81% Somewhat Walkable 14.56% 96.12% Car-Dependent 3.88% 3.88%
  25. 27. HOME Transit Scores * Only 74% of sample transit score Rider's Paradise 48.68% Excellent Transit 30.26% Good Transit 21.05% 100.00%
  26. 28. 220 <ul><li>Section 220 insured loans used to finance mortgages for housing in urban renewal areas, in which local government has tried to revitalize by: </li></ul><ul><ul><li>Altering </li></ul></ul><ul><ul><li>repair </li></ul></ul><ul><ul><li>Improve housing in those areas </li></ul></ul><ul><li>Total number of projects in the pipeline: 62 </li></ul><ul><li>Total value of the programs: $2.46 Billion </li></ul><ul><li>Total number of units: 11,645 </li></ul><ul><li>These number includes the entire 220 program </li></ul><ul><li>Sample size of analyst: All </li></ul>
  27. 29. 220 Pipeline Walk Scores Walker's Paradise 37.29% Very Walkable 42.37% Somewhat Walkable 15.25% 94.92% Car-Dependent 5.08% 5.08%
  28. 30. 220 Pipeline Transit Scores * Only 34% of sample transit score Rider's Paradise 30.00% Excellent Transit 30.00% Good Transit 30.00% 90.00% Some Transit 10.00% 10.00%
  29. 31. Scource: national housing trust