CITY of VIRGINIA BEACH RESORT AREA STRATEGIC ACTION PLAN (RASAP) Steering Committee Agenda Monday, September 23rd [2:00pm-5:00pm] AGENDA 2:00 City of Virginia Beach Housing Brief 2:15 RASAP Steering Committee - working session • Review & discuss individual edits to the draft • Form consensus around edits and revisions to text and graphics 4:45 Schedule/Next Steps Next Steering Committee Meeting - Monday, 10/07/19 2:00 - 5:00 @ CVB Board Room YARD & COMPANY Kevin is a leader in community development, economic and real estate development fjnance, have included several public and private partners and a diverse set of public fjnancing tools such
WHAT IS AFFORDABLE HOUSING AND HOW CAN WE MAKE IT HAPPEN? R A SA P E xec u t ive Committee M eet in g S ept . 2 3 , 2 0 1 9 Presented by Andrew Friedman, Director
OUTLINE W h at is “afford ab le h ou sin g ” ? W h at is t h e n eed in V irg in ia B eac h ? W h o sh ou ld we h elp to obtain “afford ab le h ou sin g ” ? How can h ou sin g b e mad e “afford ab le” ? 2
Affordable Homeownership Opportunity Virginia Beach Community Development Corporation (VBCDC) 3
Affordable Efficiency Apartments -Crescent Square Virginia Supportive Housing with Cities of Virginia Beach and Norfolk, and NRHA 4 Add a Footer
New Construction Affordable Homeownership VBCDC 5 Add a Footer
Affordable Family apartments - Baker Woods The Lawson Companies 6
Affordable Apartments for Veterans -Cedar Grove VBCDC 7
Affordable Apartments by The Lawson Companies 8
Beach Park West – Affordable Housing for Human Services Clients VBCDC 9
200 West – Affordable Apartments Franklin-Johnston Group 10 Add a Footer
Rehabilitated affordable townhome in Princess Anne Plaza Townhomes 11 Add a Footer
• An appropriate housing unit (appropriate to the household’s size & accessibility needs) • An opportunity for a household to obtain and maintain that unit (not a guarantee of housing -- no local government can provide that). OUR DEFINITION OF • Affordability : costs are less than 30- “AFFORDABLE 40% of household income. HOUSING” • Condition : the housing unit is decent and safe (up to code standards) • Availability : the unit is actually available to the person who needs it 12
Affordable housing opportunity: a household pays 30% or less of its income for a decent, safe and appropriate housing unit. No reference to the “true” cost of the AFFORDABLE unit, any particular unit, nor type of HOUSING housing. OPPORTUNITY ALL of the pictures you just saw are examples of affordable housing in Virginia Beach! 13
Social/governmental concern arises when: • choices are so limited, WHO SHOULD GOVERNMENT • housing is so expensive that people are significantly impacted in their HELP WITH ability to afford the other necessities AFFORDABILITY? of life, • or they simply are unable to obtain decent, safe and appropriate housing 14
• “Assistance” amounts and types will vary as appropriate to the income level and type of housing , consistent with public goals and regulatory requirements. WHO SHOULD • Deeper subsidies of various types are GOVERNMENT needed to help those with lower incomes HELP WITH • Assistance for people with higher incomes AFFORDABILITY? (2) should be less and in the form of loans. • Limits are also placed on amount of rent, house value, assets, etc. 15
HOUSING AFFORDABILITY FOR TOP 10 OCCUPATIONS BY EMPLOYMENT S ource: VCHR Tabulations of 2014 Virginia Workforce Connection Labor Market Information Data Max Affordable Montly Rent Max Affordable Monthly Rent, Doubled Up $3,811 $4,000 $3,500 $3,000 $2,280 $2,500 $1,906 $2,000 $1,740 $1,627 $1,500 $1,181 $1,188 $1,140 $994 2014 Median $926 $870 $814 $792 $1,000 Rent: $1,200 $594 $578 $590 $497 $463 $396 $289 $500 $0 16
RESORT AREA WORKERS NEED AFFORDABLE HOUSING ! 17
Households earning less than a given percent of the area median income (AMI), taking into account household WHO SHOULD size. GOVERNMENT HELP WITH Most federal housing programs limit eligibility to households earning 80% AFFORDABILITY? (1) of the median income. • Our metro area = approx. $63,450 for a family of 4. 18
We’ve used almost every tool there is to help make affordable housing projects happen: • Financing tools and providing vouchers PROJECT-BY-PROJECT SUPPORT FOR • Infrastructure and land ownership tools AFFORDABLE HOUSING • Support of proposals to funders/financers; and DEVELOPMENT designation of revitalization areas • Innovative partnerships • Building it ourselves! 19
31 Developments LIHTC FUNDED 3,959 Total Units – including PROJECTS IN 2,082 new construction VIRGINIA BEACH SINCE 1995* 3,678 Affordable Units Elderly, Disabled, Homeless, *INFO FROM VHDA- THANK Veterans YOU! $172M of Private Equity 20
City funds HOME and/or CDBG funding FINANCING AND Project-based voucher VOUCHERS commitments Targeting for people with disabilities 21
Building significant infrastructure Cost sharing on infrastructure INFRASTRUCTURE Reducing parking AND requirements LAND OWNERSHIP Selling public land Identifying land/connecting sellers to developers 22
Council Resolutions SUPPORT TO City Manager Letters FUNDERS AND AREA/SITE Zoning Letters DESIGNATIONS Designation of Revitalization Zones 23
Systemic Approaches to Facilitate/Allow • 2007: Single Room Occupancy Facility per • 1994: Housing for CUP/Reduced parking Seniors and Disabled Persons per • 2007: Voluntary CUP/Reduced pkg. Workforce Housing Program-density • 1997: “In-Law suites” bonuses (Accessory Dwelling Units) allowed in limited • 2012: Form-based zoning areas Code adopted in Resort area, reducing need for • 2003: Strategic Growth re-zonings/CUPs Areas allow increased density/urban form 24
A F FO R DA B LE HO US IN G A S A N IN TEGR A L PA RT O F THE F UTUR E O F PLACES PEO PLE WA N T TO LIV E : • Accessory structures/dwelling units (“in-law suites”) • Mandatory inclusionary zoning • Income-integrated housing development 25
SUMMARY • Mismatch between rents and incomes in VB and U.S. • We want to expand “affordable housing opportunities” so that renters can afford housing without sacrificing other necessities • Virginia Beach has done a lot to support project-by-project affordable housing • Opportunity to enhance systemic approaches through a combination of additional zoning changes, requirements and incentives • 26
THANK YOU! QUESTIONS & COMMENTS A n d rew M . F ried man , D irec tor V irg in ia B eac h Hou sin g & N eig h b orh ood Preser vat ion af ried ma@vb gov.com or ( 7 5 7 ) 3 8 5 -5 7 52
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