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Preserving Affordable Housing near Transit<br />Sarah Kline<br />Policy Director, Reconnecting America<br />Solutions for ...
What is Reconnecting America?<br />Reconnecting America is a national nonprofit that <br />advises civic and community lea...
Our partners:<br />Creating a national marketplace for TOD, working with cities, transit agencies, developers, investors &...
What is Transit-Oriented Development?<br /><ul><li>TOD = compact, walkabledevelopment within ½ mile of </li></ul>high-qual...
jobs
restaurants
entertainment</li></ul>People living within a half-mile radius are 5 times as likely to walk to a major transit stop than ...
Benefits of Transit-Oriented Development<br />Economic Development and Competitiveness<br />Community Revitalization<br />...
Benefits of Transit-Oriented Development<br />Neighborhoods with transportation choices save households money.<br />6<br /...
Mixed-Income Transit-Oriented Development<br />7<br />© 2011 Reconnecting America.<br />
Demand Growing for Housing Near Transit	<br />Demand for housing near transit will represent at least 1/4 of the US housin...
Supply Not Keeping Up with Demand	<br /><ul><li>Supply is not keeping up with demand, causing prices to escalate
More than half of future TOD demand will come from households earning less than area median income</li></ul>Ensuring conti...
2009 Report: Mapping Affordable Housing near Transit<br />Sponsored by AARP<br />Authored by AARP, the <br />National Hous...
Affordable Housing Well-Served in Some Cities…<br />11<br />© 2011 Reconnecting America.<br />
…But Less Served in Others<br />12<br />© 2011 Reconnecting America.<br />
Overall, Many Affordable Units Are Near Transit<br />More than 250,000 affordable apartments are in walking distance of qu...
But Affordable Housing Is At Risk<br />Potentially at Risk Housing<br />Approximately 70% of apartments near transit are c...
Transit Faces Challenges As Well<br /><ul><li>TOD works only if transit service is reliable and affordable
But federal, state, and local funding for transit is constrained
More than 85% of transit systems across the U.S. have cut service or raised fares in the past three years</li></ul>15<br /...
Challenges of Preservation Near Transit<br />More demand than supply raises land prices near transit<br />Funding for pres...
Policy Recommendations to Preserve Affordable Housing Near Transit<br />Ensure that sufficient federal funding exists to r...
Allocate resources toward preserving affordable housing in transit-rich neighborhoods.</li></ul>17<br />© 2011 Reconnectin...
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SSC2011_Sarah Kline PPT

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SSC2011_Sarah Kline PPT

  1. 1. Preserving Affordable Housing near Transit<br />Sarah Kline<br />Policy Director, Reconnecting America<br />Solutions for Sustainable Communities: 2011 Learning Conference on State and Local Housing Policy<br />September 26, 2011<br />
  2. 2. What is Reconnecting America?<br />Reconnecting America is a national nonprofit that <br />advises civic and community leaders on how to overcome the challenges associated with community development, to create better communities for all.<br /> Reconnecting America not only develops research <br />and innovative public policy, we also build <br />on-the-ground partnerships and convene the players necessary to accelerate decision-making.<br />© 2011 Reconnecting America.<br />2<br />
  3. 3. Our partners:<br />Creating a national marketplace for TOD, working with cities, transit agencies, developers, investors & communities<br />Improving practice through technical assistance, research & policy reform<br />On-line clearinghouse of TOD best practices<br />Coalition with over 500 members<br />Campaign focused on the next federal transportation bill<br />Goal: federal transportation investments that are economically sound, respond to markets, and improve people’s lives<br />© 2011 Reconnecting America.<br />3<br />3<br />
  4. 4. What is Transit-Oriented Development?<br /><ul><li>TOD = compact, walkabledevelopment within ½ mile of </li></ul>high-quality transit<br /><ul><li>Ideally, TOD will include a mix </li></ul>of uses, such as –<br /><ul><li>housing
  5. 5. jobs
  6. 6. restaurants
  7. 7. entertainment</li></ul>People living within a half-mile radius are 5 times as likely to walk to a major transit stop than others.<br />4<br />© 2011 Reconnecting America.<br />
  8. 8. Benefits of Transit-Oriented Development<br />Economic Development and Competitiveness<br />Community Revitalization<br />Improved Health and Safety<br />Reduced Carbon Emissions<br />Household Budget Savings<br />5<br />© 2011 Reconnecting America.<br />
  9. 9. Benefits of Transit-Oriented Development<br />Neighborhoods with transportation choices save households money.<br />6<br />© 2011 Reconnecting America.<br />
  10. 10. Mixed-Income Transit-Oriented Development<br />7<br />© 2011 Reconnecting America.<br />
  11. 11. Demand Growing for Housing Near Transit <br />Demand for housing near transit will represent at least 1/4 of the US housing market by 2030 – 15 million renters and buyers<br />8<br />© 2011 Reconnecting America.<br />
  12. 12. Supply Not Keeping Up with Demand <br /><ul><li>Supply is not keeping up with demand, causing prices to escalate
  13. 13. More than half of future TOD demand will come from households earning less than area median income</li></ul>Ensuring continued affordability requires proactive housing preservation.<br />9<br />© 2011 Reconnecting America.<br />
  14. 14. 2009 Report: Mapping Affordable Housing near Transit<br />Sponsored by AARP<br />Authored by AARP, the <br />National Housing Trust, and<br />Reconnecting America<br />Looked at 20 metro areas<br />Focused on federally-subsidized<br /> housing, including project-<br />based Section 8 and Section <br />202/811, within ½ mile of<br />transit<br />10<br />© 2011 Reconnecting America.<br />
  15. 15. Affordable Housing Well-Served in Some Cities…<br />11<br />© 2011 Reconnecting America.<br />
  16. 16. …But Less Served in Others<br />12<br />© 2011 Reconnecting America.<br />
  17. 17. Overall, Many Affordable Units Are Near Transit<br />More than 250,000 affordable apartments are in walking distance of quality transit.<br />Project-based Section 8 and 202 Housing<br />36%<br />64%<br />13<br />© 2011 Reconnecting America.<br />
  18. 18. But Affordable Housing Is At Risk<br />Potentially at Risk Housing<br />Approximately 70% of apartments near transit are covered by housing contracts expiring in the next five years.<br />Project-based Section 8 and 202 Housing<br />31%<br />69%<br />14<br />© 2011 Reconnecting America.<br />
  19. 19. Transit Faces Challenges As Well<br /><ul><li>TOD works only if transit service is reliable and affordable
  20. 20. But federal, state, and local funding for transit is constrained
  21. 21. More than 85% of transit systems across the U.S. have cut service or raised fares in the past three years</li></ul>15<br />© 2011 Reconnecting America.<br />
  22. 22. Challenges of Preservation Near Transit<br />More demand than supply raises land prices near transit<br />Funding for preservation is limited, and financing can be complex and challenging<br />Transit service and housing markets vary within regions<br />Lack of integration in housing, transportation & land use planning<br />16<br />© 2011 Reconnecting America.<br />
  23. 23. Policy Recommendations to Preserve Affordable Housing Near Transit<br />Ensure that sufficient federal funding exists to renew all expiring contracts<br />Provide adequate funding for the Section 202 program and support the rehabilitation of aging properties<br />Enhance funding for preservation through acquisition funds<br /><ul><li>Develop early warning systems to track at-risk housing and allocate resources appropriately.
  24. 24. Allocate resources toward preserving affordable housing in transit-rich neighborhoods.</li></ul>17<br />© 2011 Reconnecting America.<br />Source: DART<br />
  25. 25. States Using LIHTC to Encourage Affordable Housing Near Transit<br />18<br />© 2011 Reconnecting America.<br />
  26. 26. 2010 Report: Strategies for Preserving Affordable Housing Near Transit<br />Authored by Enterprise, the <br />National Housing Trust, and <br />Reconnecting America<br />Examines way in which <br />communities are addressing <br />preservation challenges<br />Case Studies in areas with<br />planned transit expansions:<br />Atlanta<br />Denver<br />Seattle<br />Washington, D.C.<br />19<br />© 2011 Reconnecting America.<br />
  27. 27. 2010 Report: Key Findings <br />Cities, developers, CDCs, and tenants are:<br />Leveraging new sources of capital subsidy, local zoning incentives and pooled financing<br />Seeking flexible acquisition financing to hold properties until financing is available<br />Securing existing unsubsidized rental housing near planned transit before land value rises<br />Engaging in collaboration with housing, transit and planning agencies<br />20<br />© 2011 Reconnecting America.<br />
  28. 28. Four steps toward preservation near planned transit<br />Make an affordable housing inventory<br /><ul><li>Helps identify locations to target when mapped against planned transit line</li></ul>Identify acquisition resources<br /><ul><li>Need to know ahead of time what tools are available
  29. 29. Develop partnerships beforehand</li></ul>Assess repositioning resources<br /><ul><li>Rising property values can be an opportunity to rehabilitate, reposition, and/or redevelop older, distressed properties</li></ul>Map out regional strategies<br /><ul><li>Engage with transit planners to identify common goals</li></ul>21<br />© 2011 Reconnecting America.<br />
  30. 30. 22<br />© 2010 Reconnecting America.<br />Interactive Tools to Promote MITOD<br />Housing and Transportation Affordability Index<br />www.htaindex.cnt.org<br />Mixed-Income Transit-Oriented Development Action Guide<br />www.mitod.org<br />National TOD Database<br />www.toddata.cnt.org<br />
  31. 31. Conclusion<br />True affordability and access to opportunity comes with mixed-use communities served by high-quality public transportation that takes people where they want to go. <br />Significant affordable housing exists today near transit, and should not be lost.<br />Preservation of affordable housing near transit should be a focus at the federal, state, and local level.<br />23<br />© 2011 Reconnecting America.<br />
  32. 32. Thank you!<br />Sarah KlinePolicy Director<br />Reconnecting AmericaEMAIL: skline@reconnectingamerica.orgPHONE: 202.429.6990 ext.202<br />Visit us at www.ReconnectingAmerica.org<br />Twitter@reconnecting<br />YouTube<br />reconnectingamerica<br />Flickr<br />ractod<br />Find us on<br />Linked In<br />Facebook<br />

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