Affordable Housing

PRESERVING HOUSING OPTIONS FOR ALL

Affordable housing offers a vital step toward economic wellbeing and wealth creation for families with low and modest incomes. Both the supply and location of affordable housing are important. Nearby transit with good regional connections provides access to jobs, services, education, health care and other opportunities that enhance quality of life. This better access reduces household transportation costs and spreads limited income further.

WHAT’S AT ISSUE?

Current affordable housing stock in the neighborhoods along Washington and University Avenues could come under development pressures, especially as light rail transit investment in the area creates opportunities to live near transit. When this new demand rises in a community, the neighborhood may see increased rents, home prices, and property taxes. Existing residents who once found apartments and houses affordable may find their neighborhood is now unaffordable. Teachers, truck drivers, cashiers, artists, beauticians, fire fighters and nurses may end up moving farther from transit options that were supposed to benefit them. Proactive planning and efforts to preserve and expand affordable housing can help new development support existing communities and limit involuntary displacement.

WHAT WE WANT TO ACHIEVE

• Keep housing options available to residents at all income levels, now and in the future
• Preserve existing affordable housing as much as possible
• Minimize involuntary displacement of existing households
• Encourage policies and incentives to include affordable housing units as part of new mixed-income development.