At ULI South Carolina’s Capital Markets Conference, panelists outlined strategies that are leveraging the strengths of the private sector to create and preserve affordable housing in areas experiencing rapid growth.
Affordable housing challenges are not limited to urban centers or technology hubs. Smaller towns often struggle to house their workforces and—perhaps less noticeably, but no less acutely—so do agricultural operations. Agriculture employs 11 percent of the U.S. workforce, while also contributing to manufacturing, wholesaling, and retailing. The sector is also suffering from a dire labor shortage that has the potential to disrupt the entire food chain.
With an unemployment rate of 2.6 percent, a diverse economy anchored by health and education institutions, and a flourishing tech and life sciences sector, Greater Boston appears poised for continued growth, even with the specter of a potential recession on the horizon. But, like many other growing U.S. cities, the demand for housing far outstrips the supply. Much of the expanding workforce is in danger of being priced out of the market, as are many longtime residents.
Using a facilitated conversation format honed at previous ULI meetings, the “fishbowl” at ULI’s Fall Meeting in Washington, D.C., brought together 12 experts to discuss the natural tension between cities’ need to encourage housing and economic development—and the community backlash that often results from specific proposals.
Using available land is a key strategy for filling the District of Columbia’s need for affordable housing units, Mayor Muriel Bowser said at ULI’s Fall Meeting in Washington, D.C. Bowser recently articulated her vision to construct 36,000 additional housing units in the District by 2025.
No single solution exists among the efforts to deliver attainable and affordable housing in a country where home prices continue to escalate significantly and the dream of homeownership is out of reach of millions of households, an expert panel told attendees at ULI’s 2019 Fall Meeting in Washington, D.C.
The New York City Housing Authority and the Philadelphia Redevelopment Authority have been selected by the ULI Terwilliger Center for Housing as the joint winners of the 2019 Robert C. Larson Housing Policy Leadership Award, which is an annual recognition of the innovative ways that the public sector is addressing the country’s affordable housing crisis. The winners, selected by a jury of nationally renowned housing industry leaders, were announced today during ULI’s 2019 Fall Meeting in Washington, D.C. Terwilliger Center Founder and former ULI Chairman J. Ronald Terwilliger served as the jury chairman.
Plaza Roberto Maestas in Seattle; the Lindley in Bethesda, Maryland; and the Watson in Quincy, Massachusetts, have been selected as the ULI Terwilliger Center for Housing’s 2019 Jack Kemp Excellence in Affordable and Workforce Housing Award. The annual award recognizes best practices in the development of housing that is affordable to people with a broad range of incomes. Developments eligible for the award are those in which all or a portion of the units are affordable to households earning up to 120 percent of the median income in the areas in which the projects are located.
According to U.S. Census Bureau estimates, the population of Washington, D.C., topped 700,000 residents last year, the first time since 1975. But the Metropolitan Washington Council of Governments estimates a shortfall of more than 200,000 housing units by 2025 to meet the projected job growth and transportation system performance in the urban core of the D.C. region. A ULI Washington Impact Task Force report addressed two main barriers to opportunities for supply growth and attainability: navigating the entitlement and approval processes, as well as gaining community acceptance through engagement and participation.
A light-gauge steel structural system allows an apartment building to rise 12 stories above five parking levels in Atlanta.