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RV 2015: America's Affordable Housing Crisis: The Role of Transit by Steve Heminger

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America is facing an affordable housing crisis. Where do transit agencies fit in? A large portion of transit ridership is made up of lower-income, transit-dependent patrons. Hear how crisis has spurred innovation and how transit agencies and their partners are tackling the problem, head on: The FTA has added affordable housing to the New Starts criteria. Los Angeles Metro has set a goal that 35 percent of housing on Metro land be affordable. In the Bay Area, the Metropolitan Transportation Commission is investing in affordable TOD. Learn more about these groundbreaking efforts and join a spirited discussion of the opportunities and barriers faced by transit agencies working to address America’s affordable housing challenge.

Moderator: L. Benjamin Starrett, Exective Director and Founder, Funders' Network for Smart Growth & Livable Communities; Treasurer, Board of Directors, Rail~Volution, Coral Gables, Florida
Phillip A. Washington, Chief Executive Officer, Metro, Los Angeles, California
Stephanie Pollack, Secretary and Chief Executive Officer, Massachusetts Department of Transportation, Boston, Massachusetts
Steve Heminger, Executive Director, Metropolitan Transportation Commission, Oakland, California
Brian Lamb, General Manager, Metro Transit, Minneapolis, Minnesota

Published in: Economy & Finance
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RV 2015: America's Affordable Housing Crisis: The Role of Transit by Steve Heminger

  1. 1. Transit and the Bay Area’s Housing Shortage Rail~Volution Dallas, Texas October 26, 2015 Steve Heminger, Executive Director
  2. 2. How Hot Is the Bay Area Economy? 2 $2,864 $1,344 $1,213 $955 $526 Source: Franchise Tax Board, 2013
  3. 3. 3 Home sale Prices: National Context Source: Zillow (1996-2014); inflation-adjusted to November 2014 dollars $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 January1,1998 January1,1999 January1,2000 January1,2001 January1,2002 January1,2003 January1,2004 January1,2005 January1,2006 January1,2007 January1,2008 January1,2009 January1,2010 January1,2011 January1,2012 January1,2013 January1,2014 AdjustedforinflationMedianHomePrice (In1000ofdollars) Bay Area Los Angeles New York Washington DC Miami Philadelphia Chicago Atlanta MEDIAN HOME PRICES BY METRO AREA
  4. 4. Bay Area Housing Shortage – A 2+ Decade Crisis  Bay Area has underbuilt housing for low and moderate income households since the 1980s  Since 1990 – just 35% of the Region’s Moderate Income Housing and only 40% Low Income Housing Need has been built  Limited supply of Greenfield Sites  State eliminated Redevelopment and Affordable Housing Funding  Rapid Job Growth, Technology Boom and Foreign Investment  Bay Area is the Nation’s most expensive housing market 4
  5. 5. 5 Urbanized land PDAs ■ < 5% of region’s land ■ 80% of new homes ■ 66% of new jobs Non-urbanized land  Priority Development Areas  Locally-nominated areas for development  Frequent transit service  Nearly 200 PDAs in the region  No change to local authority over land use decisions Build on an Existing Framework
  6. 6. PDA Planning Program  Comprehensive neighborhood-level planning  Links local community aspirations and regional objectives  Include programmatic EIRs to simplify development process  51 projects funded to-date  60,000 + housing units  103,000 + new jobs  26 million sq. ft. commercial development 6
  7. 7. OneBayArea Grant (OBAG) Program Rewards jurisdictions that produce housing near transit and create healthy communities  Eligible Projects  Streetscapes  Bicycle and pedestrians  Safe routes to schools  Local streets and roads
  8. 8. OBAG County Distribution Formula 8 * Draft RHNA 2014-2022 ** Housing Production Report 1999-2006, ABAG
  9. 9. OBAG Requirements  Flexibility in distribution, but OBAG requires:  Counties  70% of funds to be spent in PDAs  Development of PDA Investment and Growth Strategies  Cities  Housing element adoption  Complete streets resolution or consistency with general plan 9
  10. 10. Transit Oriented Affordable Housing Program (TOAH)  $90 million revolving Loan Fund  Projects located in PDAs, transit accessible  Loan products for affordable housing, mixed income & mixed-use projects 10 Architect's rendering of the Eddy + Taylor Family Housing project slated for construction in San Francisco
  11. 11. Historical Trend for Housing Growth in the Bay Area 11Source: Source: Construction Industry Research Board (1967-2010); California Homebuilding Foundation (2011-2013)

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