Denver9/28_NHC PII

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

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Denver9/28_NHC PII

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

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