Example: confidence

Ten Principles for Developing Affordable Housing

Urban LandInstitute$Ten Principles forDeveloping AffordableHousingTen Principles forDeveloping AffordableHousing10 PAH Cover 4/30/07 11:11 AM Page Covr1 Ten Principles forDeveloping Affordable HousingAlexa BachPrema Katari GuptaRichard HaugheyGeorge KellyMichael PawlukiewiczMichael PitchfordThe Urban Land Institute gratefully acknowledges the financial support of the Fannie Mae Foundation in underwriting this Principles Aff Hsg 4/30/07 11:39 AM Page iRecommended bibliographic listing :Bach, Alexa, Prema Katari Gupta, RichardHaughey, George Kelly, Michael Pawlukiewicz,and Michael Pitchford. Ten Principles for Devel-oping Affordable Housing . Washington, :ULI the Urban Land Institute, Order #T40: Packet of TenULI Order #T41: Single CopyInternational Standard Book Number:978-0-87420-978-5 Copyright 2007 by ULI the Urban Land Institute1025 Thomas Jefferson Street, 500 WestWashington, 20007-5201 Printed in the United States of America.

the Fannie Mae Foundation in underwriting this project. ... Recommended bibliographic listing: Bach, Alexa, Prema Katari Gupta, Richard Haughey, George Kelly, Michael Pawlukiewicz, and Michael Pitchford. ... BRIDGE Housing Corporation, Don set out to …

Tags:

  Bridge, Project, Listing

Information

Domain:

Source:

Link to this page:

Please notify us if you found a problem with this document:

Other abuse

Transcription of Ten Principles for Developing Affordable Housing

1 Urban LandInstitute$Ten Principles forDeveloping AffordableHousingTen Principles forDeveloping AffordableHousing10 PAH Cover 4/30/07 11:11 AM Page Covr1 Ten Principles forDeveloping Affordable HousingAlexa BachPrema Katari GuptaRichard HaugheyGeorge KellyMichael PawlukiewiczMichael PitchfordThe Urban Land Institute gratefully acknowledges the financial support of the Fannie Mae Foundation in underwriting this Principles Aff Hsg 4/30/07 11:39 AM Page iRecommended bibliographic listing :Bach, Alexa, Prema Katari Gupta, RichardHaughey, George Kelly, Michael Pawlukiewicz,and Michael Pitchford. Ten Principles for Devel-oping Affordable Housing . Washington, :ULI the Urban Land Institute, Order #T40: Packet of TenULI Order #T41: Single CopyInternational Standard Book Number:978-0-87420-978-5 Copyright 2007 by ULI the Urban Land Institute1025 Thomas Jefferson Street, 500 WestWashington, 20007-5201 Printed in the United States of America.

2 Allrights reserved. No part of this book may bereproduced in any form or by any means, elec-tronic or mechanical, including photocopyingand recording, or by any information storageand retrieval system, without written permis-sion of the publisher. About ULI the Urban Land InstituteThe mission of the Urban Land Institute is toprovide leadership in the responsible use ofland and in creating and sustaining thrivingcommunities worldwide. ULI is committed to: Bringing together leaders from across thefields of real estate and land use policy toexchange best practices and serve communityneeds; Fostering collaboration within and beyondULI s membership through mentoring, dialogue,and problem solving; Exploring issues of urbanization, conserva-tion, regeneration, land use, capital formation,and sustainable development; Advancing land use policies and design prac-tices that respect the uniqueness of both builtand natural environments; Sharing knowledge through education,applied research, publishing, and electronicmedia.

3 And Sustaining a diverse global network of localpractice and advisory efforts that address cur-rent and future in 1936, the Institute today hasmore than 35,000 members from 90 countries,representing the entire spectrum of the landuse and development disciplines. Professionalsrepresented include developers, builders, prop-erty owners, investors, architects, public offi-cials, planners, real estate brokers, appraisers,attorneys, engineers, financiers, academics,students, and librarians. ULI relies heavily onthe experience of its members. It is throughmember involvement and information resourcesthat ULI has been able to set standards ofexcellence in development Institute has long been recognized as one of the world s most respected and widelyquoted sources of objective information onurban planning, growth, and project Staff Rachelle L.

4 LevittExecutive Vice President, Information GroupPublisherDean SchwankeSenior Vice President, Publications and AwardsRichard M. HaugheyDirector, Multifamily DevelopmentProject DirectorMichael PawlukiewiczDirector, Environmental and Policy EducationJohn K. McIlwainSenior Resident Fellow for HousingULI/J. Ronald Terwilliger Chair for HousingAlexa BachFormer Scholar-in-ResidenceGeorge KellyFormer Scholar-in-ResidencePrema Katari GuptaScholar-in-ResidenceNancy H. StewartDirector, Book ProgramManaging EditorLibby HowlandManuscript EditorBetsy VanBuskirkArt DirectorBook and Cover DesignCraig ChapmanDirector, Publishing OperationsCover photograph: The Townhomes on CapitolHill, Washington, (Bob Narod/Corcoran Jennison Companies).

5 Ii10 Principles Aff Hsg 4/30/07 11:39 AM Page iiiiiParticipantsChairJ. Michael PitchfordPresidentCommunity Preservation and Development CorporationWashington, ParticipantsMilton BaileyFormer Executive Housing Finance AgencyWashington, BodakenPresidentNational Housing TrustWashington, CrowleyPresidentNational Low-Income Housing CoalitionWashington, DoughertyVice PresidentEdgewood Management CorporationSilver Spring, MarylandSusan DeweyExecutive DirectorVirginia Housing Development AuthorityRichmond, VirginiaJim EdmonsonPresidentUniDev LLCB ethesda, MarylandConrad EganPresident/CEON ational Housing ConferenceWashington, GentrySenior Vice President, Asset ManagementNational Equity FundChicago.

6 IllinoisRenee GloverCEOCity of Atlanta Housing AuthorityAtlanta, GeorgiaMossik HacobianExecutive DirectorUrban Edge Housing CorporationBoston, MassachusettsKil HuhFormer Director, Practice DevelopmentFannie Mae FoundationWashington, JonesPresidentCorcoran Jennison CompaniesDorchester, MassachusettsEllen LazarSenior Vice President, Housing and Community InitiativesFannie Mae FoundationWashington, McAveyExecutive Vice PresidentULI the Urban Land InstituteWashington, McIlwainSenior Resident Fellow, HousingULI the Urban Land InstituteWashington, MerchantPolicy AnalystVirginia Housing Development AuthorityRichmond, VirginiaTom MurphySenior Resident Fellow, Urban DevelopmentULI the Urban Land InstituteWashington, SilverwoodPresidentSilverwood AssociatesReston, VirginiaAlexander ViorstManaging DirectorMMA FinancialWashington, WiencekPresidentWiencek + Associates Architects + Planners PCGaithersburg, MarylandJoyce WoodsonCouncilmemberCity of AlexandriaAlexandria, VirginiaThis report was conceived by the ULIA ffordable Housing Council, the mem-bers of which formulated these princi-ples for the development of affordablehousing as well as reviewed and editeddrafts of the Ten Principles Principles Aff Hsg 4/30/07 11.

7 39 AM Page iiiThe explosive appreciation in Housing prices from the late 1990s to the mid-2000s created significant wealth for people fortunate enough to own their ownhome. In many markets, double-digit appreciation year after year created homeequity that homeowners tapped to pay off other debt, remodel their homes, takevacations, and buy new cars. By the mid-2000s, Housing price appreciation hadslowed to more traditional rates, but home prices remained quite high in most mar-kets. Over the same period, incomes were stagnant, taking median-price Housing outof the range of median-income other factors combined to create what could be described as an affordablehousing crisis in many regions of the country.

8 First, resources for the support ofaffordable Housing became more limited with the continuing decentralization of fed-eral Housing programs to the states. Secondly, many Affordable Housing units werelost to expiring uses (the conversion of subsidized developments to market-ratehousing), the conversion of Affordable rental developments to condominiums, anddemolition. The growing local community opposition to any new development hasalso played a role in that it tends to focus particularly on multifamily Housing ,which can be more Affordable than single-family Housing , and on Affordable housingdevelopments with public convergence of these trends has limited the Housing options of many peoplewith low and moderate incomes.

9 Many are forced to pay a larger and larger share oftheir income for Housing ; to crowd into shared apartments, townhouses, or single-family homes; or to find Housing in distant suburbs located far from their are forced to combine all three options to pay a lot to live in a crowdedhouse in doesn t have to be this way. Communities can support the development of hous-ing for people and families at a variety of income levels. And they should, in fact,because doing so makes sense from an economic development perspective. Theavailability of decent Housing that is close to work and Affordable for the jobholdersupon which the proper functioning of the local economy depends is essential to thecommunity s economic communities need teachers, firefighters, police officers, municipal employees,health care workers, contractors, landscapers, and retail salespersons, to list just afew essential service workers.

10 Unfortunately, many communities fail to ensure thatsuch workers have safe, Affordable Housing opportunities within a reasonable dis-tance from their work. The residents of many of these communities not only pas-sively accept this reality, but also actively oppose proposals to provide such hous-ivIntroduction10 Principles Aff Hsg 4/30/07 11:39 AM Page iving. Their opposition to the local development of Affordable Housing may not servethe self-interest they believe they are is not only a community s essential service workers who stand in need of afford-able Housing . The market for Affordable Housing is diverse and does not correspondwith many people s outdated stereotypes about who lives in Affordable Housing .


Related search queries