WHAT’S REALLY HAPPENING MULTI-FAMILY HOUSING WHAT’S REALLY HAPPENING
Is There a Bubble Forming?
Development Trends
Who and Where: Demographics: Who’s being targeted now? Who should be targeted next? Locations: What’s Hot and will stay Hot? What’s Hot and will get Cold? What’s Cold and will get Hot? What’s Cold and will stay Cold
What: Unit sizes Unit features Project amenities Parking Lease terms Incentives
How: Land availability Land prices Construction costs Material costs Permitting time & certainty Construction financing Biggest hurdles
Affordable Housing
What is HALA?
What does HALA stand for? Housing Affordability and Livability Agenda Goal = create 50,000 new homes in 10 years 30,000 market rate units 20,000 affordable units 6,000 of the affordable units to come from MHA
Mandatory Housing Affordability What does MHA stand for? Mandatory Housing Affordability Policy to ensure that growth brings affordability Increases development capacity, often an extra floor New development contributes directly to affordable housing Either build affordable homes on site, or Make a payment to the City City uses payments to fund affordable housing Affordable is up to 60% of the area median income (AMI) $37,980 for an individual, $54,180 for a family of four. MHA to create 6,000 affordable homes in 10 years.
Median Incomes By Job Type
Median Incomes By Job Type
The Parsonage
The Parsonage
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