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Comprehensive Housing Strategy (CHS)
Created through Legislation - CR Governance Ad-Hoc Housing Subcommittee Advisory Committee Administered by Department of Housing and Community Development (DHCD) Hired Consultants, Enterprise Community Partners Goals of Comprehensive Housing Strategy Assess the market and conditions of the County’s housing to understand how best to: Support existing residents & Attract new residents Understand and identify the demographic trends to ensure housing needs are being address for all Types of Housing and affordability of housing Explore conditions necessary to build on strategic investments and submarket conditions Process of the CHS 18 month timeline Conduct market analysis using quantitative and qualitative data collection surveying methodology Examine the County’s existing policies & tools, and recommend improvements and/or new Develop implementation plan with cross-cutting and targeted strategies with cost considerations Results / Conclusion Developed Strategic Roadmap with 10 year implementation plan Recommended 26 Cross-Cutting Actions & 22 Targeted Actions Strategies were comprehensive, market informed, inclusive, asset based and Connected to Opportunity
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Highlights of Observations
DEMOGRAPHIC TRENDS Highlights of Observations The county’s housing stock has not evolved to meet the changing needs of residents. The housing market is strengthening, bringing both opportunity and creating concern among existing residents. Many current residents can not find housing that aligns with their earnings. There are significant concerns about the quality and livability of some of the county’s existing housing.
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COUNTY’S HOUSING MARKET CONDITIONS
How are market conditions changing within the county? Higher rents & home values, lagging income growth countywide Stronger market conditions in rural sub-area Weaker market conditions in urban sub-area Example of observations where actions could benefit /support existing resident The county’s housing stock has not evolved to meet the changing needs of residents. The housing market is strengthening, bringing both opportunity and creating concern among existing residents. Many current residents cannot find housing that aligns with their earnings. There are significant concerns about the quality and livability of some of the county’s existing housing.
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RECOMMENDED STRATEGIES
26 cross-cutting actions Designed to build the County’s capacity Enhance policies and incentives for housing development Increase collaboration, coordination and transparency Expand funding and diversify financing mechanisms 22 targeted actions Designed to address specific housing needs and market conditions Encourage new, context-sensitive development that expands housing types Improve the quality of the County’s existing housing supply Build stronger economic opportunity & revitalize neighborhoods
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Next Steps Finalize Document
Identify intersection point with other on-going initiatives Zoning Re-write Affordable Housing Commission Plan 2035 Competitive retail Market Strategic Action Plan Etc. Analyze & assess new market trends and how it impacts the implementation of the CHS (e.g. Opportunity Zones, Amazon H2Q, new forecast from MWCOG) Council approve study & determine implementation Strategy to Move forward
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