Nowak Metro Finance Lab reposted this
In the US, an overabundance of single-family zoning limits housing supply, raises prices, and prevents economic mobility. Mallory Baches, President of The Congress for the New Urbanism, shared promising solutions to the housing crisis, from a grand boulevard strategy in California converting commercial property to affordable housing to transforming single family homes in Atlanta into multi-housing units. Meanwhile, 1/3 of households spend 1/3 or more of monthly income on housing. Accelerator for America (AFA) and the Nowak Metro Finance Lab have launched the National Housing Crisis Task Force to leverage knowledge and expertise of city leaders and housing researchers to find and scale innovations in housing production, preservation, and finance. AFA President Mary Ellen Wiederwohl moderated our panel and invited city leaders to engage with this effort, which will publish its first report in Nov. 2024. Some highlights from our city speakers: > Use every tool: In Lansing (MI), Mayor Andy Schor is using a combination of local incentives, federal ARPA, LITEC, and CDBG, and state appropriation to revitalize downtown and create hundreds of residential units. In Knoxville (TN), Director of Housing and Neighborhood Development Kevin DuBose said that since 2019 the city has invested $40M into affordable housing while leveraging more than $600M in investment, resulting in 2,300+ new units. Waterloo (IA) Mayor Quentin Hart shared that while his first instinct was to remove blighted properties, he realized that restoring existing housing - especially with high construction costs - is key to housing affordability. > Use data to focus on equity and address redlining: In Lansing, data revealed one area in the city was falling behind: lowest test scores, highest concentration of poverty, lowest service delivery. In response, it was designated an “Area of Focus,” allowing for an influx of investment. Knoxville developed two data dashboards tracking housing assistance and housing trends to inform the public and policy makers about housing needs and programs to address them. > Asset rich housing: Lansing’s Walter French Adaptive Reuse project will convert a former junior high into 76 apartments at or below 80% AMI, with 17 units for those experiencing homelessness. The building is convenient to transit and will include first floor childcare and social services. The Walnut Neighborhood Restoration Project in Waterloo is transforming a disinvested area of the city into 55 new homes adjacent to a grocery store and community center. > Workforce is key: The City of Lansing is growing the pipeline of BIPOC developers through its Equitable Economic Development Program. In Waterloo, the Hawkeye Sustainability Initiative, a partnership with Hawkeye Community College, makes building science part of the curriculum, allowing students to work on construction projects in neighborhoods where they grew up. Find all resources for this panel on our website: bit.ly/mip-s24.