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Preserving Affordable Housing near Transit Sarah Kline Policy Director, Reconnecting America Solutions for Sustainable Communities: 2011 Learning Conference on State and Local Housing Policy September 26, 2011
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Page 1: SSC2011_Sarah Kline PPT

Preserving Affordable Housing near Transit Sarah KlinePolicy Director, Reconnecting America

Solutions for Sustainable Communities: 2011 Learning Conference on State and Local Housing PolicySeptember 26, 2011

Page 2: SSC2011_Sarah Kline PPT

What is Reconnecting America?

Reconnecting America is a national nonprofit that advises civic and community leaders on how to

overcome the challenges associated with community development, to create better communities for all.

Reconnecting America not only develops research

and innovative public policy, we also build on-the-ground partnerships and convene the players

necessary to accelerate decision-making.

2 © 2011 Reconnecting America.

Page 3: SSC2011_Sarah Kline PPT

Our partners:

•Creating a national marketplace for TOD, working with cities, transit agencies, developers, investors & communities

•Improving practice through technical assistance, research & policy reform

•On-line clearinghouse of TOD best practices

•Coalition with over 500 members

•Campaign focused on the next federal transportation bill

•Goal: federal transportation investments that are economically sound, respond to markets, and improve people’s lives

33 © 2011 Reconnecting America.

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4 © 2011 Reconnecting America.

What is Transit-Oriented Development?

• TOD = compact, walkable development within ½ mile of high-quality transit

• Ideally, TOD will include a mix of uses, such as –• housing• jobs• restaurants• entertainment

People living within a half-mile radius are 5 times as likely to walk to a major transit stop than others.

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Benefits of Transit-Oriented Development

• Economic Development and Competitiveness

• Community Revitalization

• Improved Health and Safety

• Reduced Carbon Emissions

• Household Budget Savings

5 © 2011 Reconnecting America.

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Benefits of Transit-Oriented Development

6 © 2011 Reconnecting America.

Neighborhoods with transportation choices save households money.

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Mixed-Income Transit-Oriented Development

7 © 2011 Reconnecting America.

Page 8: SSC2011_Sarah Kline PPT

Demand Growing for Housing Near Transit

• Demand for housing near transit will represent at least 1/4 of the US housing market by 2030 – 15 million renters and buyers

8 © 2011 Reconnecting America.

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Supply Not Keeping Up with Demand

9 © 2011 Reconnecting America.

• Supply is not keeping up

with demand, causing

prices to escalate

• More than half of future

TOD demand will come

from households earning

less than area median

income

Ensuring continued affordability requires proactive housing preservation.

Page 10: SSC2011_Sarah Kline PPT

2009 Report: Mapping Affordable Housing near Transit• Sponsored by AARP

• Authored by AARP, the National Housing Trust, andReconnecting America

• Looked at 20 metro areas

• Focused on federally-subsidizedhousing, including project-based Section 8 and Section 202/811, within ½ mile oftransit

10 © 2011 Reconnecting America.

Page 11: SSC2011_Sarah Kline PPT

Affordable Housing Well-Served in Some Cities…

11 © 2011 Reconnecting America.

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…But Less Served in Others

12 © 2011 Reconnecting America.

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Overall, Many Affordable Units Are Near Transit

13 © 2011 Reconnecting America.

Project-based Section 8 and 202 Housing

More than 250,000 affordable apartments are in walking distance of quality transit.

36%

64%

Page 14: SSC2011_Sarah Kline PPT

But Affordable Housing Is At Risk

14 © 2011 Reconnecting America.

69%

31%

Potentially at Risk Housing

Project-based Section 8 and 202 Housing

Approximately 70% of apartments near transit are covered by housing contracts expiring in the next five years.

Page 15: SSC2011_Sarah Kline PPT

Transit Faces Challenges As Well

• TOD works only if transit service is reliable and affordable

• But federal, state, and local funding for transit is constrained

• More than 85% of transit systems across the U.S. have cut service or raised fares in the past three years

15 © 2011 Reconnecting America.

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Challenges of Preservation Near Transit

16 © 2011 Reconnecting America.

1. More demand than supply raises land prices near transit

2. Funding for preservation is limited, and financing can be complex and challenging

3. Transit service and housing markets vary within regions

4. Lack of integration in housing, transportation & land use planning

Page 17: SSC2011_Sarah Kline PPT

Policy Recommendations to Preserve Affordable Housing Near Transit

• Ensure that sufficient federal funding exists to renew all expiring contracts

• Provide adequate funding for the Section 202 program and support the rehabilitation of aging properties

• Enhance funding for preservation through acquisition funds

• Develop early warning systems to track at-risk housing and allocate resources appropriately.

• Allocate resources toward preserving affordable housing in transit-rich neighborhoods.

17 © 2011 Reconnecting America.

Source: DART

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States Using LIHTC to Encourage Affordable Housing Near Transit

18 © 2011 Reconnecting America.

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2010 Report: Strategies for Preserving Affordable Housing Near Transit

• Authored by Enterprise, the National Housing Trust, and Reconnecting America

• Examines way in which communities are addressing

preservation challenges

• Case Studies in areas withplanned transit expansions:• Atlanta• Denver• Seattle• Washington, D.C.

19 © 2011 Reconnecting America.

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2010 Report: Key Findings

Cities, developers, CDCs, and tenants are:

• Leveraging new sources of capital subsidy, local zoning incentives and pooled financing

• Seeking flexible acquisition financing to hold properties until financing is available

• Securing existing unsubsidized rental housing near planned transit before land value rises

• Engaging in collaboration with housing, transit and planning agencies

20 © 2011 Reconnecting America.

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Four steps toward preservation near planned transit

21 © 2011 Reconnecting America.

1. Make an affordable housing inventory• Helps identify locations to target when mapped against

planned transit line

2. Identify acquisition resources• Need to know ahead of time what tools are available• Develop partnerships beforehand

3. Assess repositioning resources• Rising property values can be an opportunity to

rehabilitate, reposition, and/or redevelop older, distressed properties

4. Map out regional strategies• Engage with transit planners to identify common goals

Page 22: SSC2011_Sarah Kline PPT

22 © 2010 Reconnecting America.

Interactive Tools to Promote MITOD

• Housing and Transportation Affordability Index• www.htaindex.cnt.org

• Mixed-Income Transit-Oriented Development Action Guide• www.mitod.org

• National TOD Database• www.toddata.cnt.org

Page 23: SSC2011_Sarah Kline PPT

Conclusion

True affordability and access to opportunity comes with mixed-use communities served by high-quality public transportation that takes people where they want to go.

Significant affordable housing exists today near transit, and should not be lost.

Preservation of affordable housing near transit should be a focus at the federal, state, and local level.

23 © 2011 Reconnecting America.

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Thank you!

Sarah KlinePolicy DirectorReconnecting AmericaEMAIL: [email protected]: 202.429.6990 ext.202

Find us on Facebook Linked In Twitter @reconnecting

YouTubereconnectingamerica

Flickrractod

Visit us at www.ReconnectingAmerica.org


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