UL I Confe r e nc e : Housing Oppor tunity 2017 Se pte mb e r 11, - PowerPoint PPT Presentation

UL I Confe r e nc e : Housing Oppor tunity 2017 Se pte mb e r 11, 2017

2 CIT Y OF AL E XANDRIA, VIRGINIA

 F ounde d in 1749  L oc ate d just SW of DC and se r ve d by Me tr o, Amtr ak and VRE , as we ll as DCA  Size : 15.5 squar e mile s  Population: appr ox. 150,000  % of home s in whic h a language othe r than E nglish is spoke n: 32%  Me dian house hold inc ome : $89,134  Ave r age asse sse d r e side ntial value : $532,492  Re nte r - oc c upie d home s: 57.5%  Ave r age r e nt: $1,760  Housing c ost- bur de ne d r e nte r s: 44% 3 CIT Y OF AL E XANDRIA, VIRGINIA

T HE CI T Y’S AF F OR DABL E HOUSI NG CHAL L E NGE — T HE R E AL E ST AT E MAR KE T Inc r e ase in ave r age asse sse d value of r e side ntial 166 Inc r e ase in pr ope r ty in the % Inc r e ase in 73% ave r age r e nt c ity 32% ave r age for 2- be dr oom house hold in the c ity inc ome in DC 200% 178% me tr o ar e a 180% 160% 140% 95% 120% 100% 80% 33% 60% 40% 20% 0% So urc e : HUD I nc o me L imits, 2000-2017; City o f Ale xandria, Offic e o f Ho using 2017 Apartme nt Surve y and Offic e o f Re al E state Asse ssme nts, 2000-2017

T HE CI T Y’S AF F OR DABL E HOUSI NG CHAL L E NGE — MAR KE T AF F OR DAB L E I NVE NT OR Y 20000 18218 19000 18000 17000 93% 16000 14341 15000 2000- 2017 13791 14000 12219 11984 13000 12167 12000 11000 10127 9841 9598 10000 9000 7889 8123 8000 6670 6416 7000 5956 5672 5338 6000 5000 3853 4000 3000 1749 2000 1000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 So urc e : City o f Ale xandria, Offic e o f Ho using Apartme nt Surve y 2000-2017

HOUSING 2013 MAST E R PL AN   Ro a d ma p to g uide City E mpha sis o n o ppo rtunitie s in hig he r-de nsity a re a s with inve stme nt in a ffo rda b le a c c e ss to tra nsit, jo b s, a nd ho using pre se rva tio n a nd a me nitie s pro duc tio n  Co mmitte d a ffo rda b le ho using  Ho using fo r All po lic y: ho using inc lude s re nta l a nd sa le s units  o ptio ns fo r a ll a b ilitie s, life L o ng -te rm a ffo rda b ility is ke y c o mpo ne nt sta g e s a nd inc o me s  Citywide distrib utio n o f a ffo rda b le units to he lp fo ste r so c ia l a nd c ultura l dive rsity 2,000 units with within mixe d-inc o me GOAL ne w a fforda bility c o mmunitie s by 2025 www.a le xa ndria va .g o v/ Ho using Pla n

HOUSING 2013 MAST E R PL AN   Ro a d ma p to g uide City E mpha sis o n o ppo rtunitie s in hig he r-de nsity a re a s with inve stme nt in a ffo rda b le a c c e ss to tra nsit, jo b s, a nd ho using pre se rva tio n a nd a me nitie s pro duc tio n  Co mmitte d a ffo rda b le ho using  Ho using fo r All po lic y: ho using inc lude s re nta l a nd sa le s units  o ptio ns fo r a ll a b ilitie s, life L o ng -te rm a ffo rda b ility is ke y c o mpo ne nt sta g e s a nd inc o me s  Citywide distrib utio n o f a ffo rda b le units to he lp fo ste r T OOL S so c ia l a nd c ultura l dive rsity 2,000 units with  Pa rtne rships with no npro fits a nd the within mixe d-inc o me ne w a fforda bility Ale xa ndria Ho using Autho rity c o mmunitie s  Pre de ve lo pme nt lo a ns by 2025  I nc re a se d b o nus de nsity  E nha nc e me nts to ho me o wne rship pro g ra ms to e xte nd a ffo rda b ility (sha re d e q uity) www.a le xa ndria va .g o v/ Ho using Pla n  I nc re a se d o utre a c h a nd e duc a tio n

CI T Y-OWNE D L AND AND DE VE L OPME NT R I GHT S  Pub lic , priva te a nd T he Station at Potomac Yar d no npro fit pa rtne rship  De ve lo pe r pro vide d la nd a nd mo ne y Jac kson Cr ossing  I nno va tive de sig n a nd mix o f use s  60-80% AMI  L I HT C, City g ra nts a nd lo a ns, VHDA lo a n 8

CI T Y-OWNE D L AND AND DE VE L OPME NT R I GHT S  Pub lic a nd no npro fit T he Station at Potomac Yar d pa rtne rship  City-o wne d pa rc e l do na te d to c o mple te Jac kson Cr ossing la nd a sse mb la g e  T OD, jo b s a nd a me nitie s (inc luding o n-site da yc a re )  60% AMI  L I HT C, City la nd a nd lo a n, a nd priva te fina nc ing 9

CONVE R T I NG AN AF F OR DABL E HOUSI NG CONT R I BUT I ON T O E NHANCE T HE NUMBE R OF AF F OR DABL E HOUSI NG UNI T S T he Gate way at King & Be aur e gar d (unde r c onstr uc tion) Mixe d-use re de ve lo pme nt will inc lude ma rke t-ra te a pa rtme nts, re ta il, a g ro c e ry sto re a nd o ffic e , a lo ng with 74 units o f a ffo rda b le ho using (40-60% AMI ) thro ug h priva te - no npro fit pa rtne rship

CONVE R T I NG AN AF F OR DABL E HOUSI NG CONT R I BUT I ON T O E NHANCE T HE NUMBE R OF AF F OR DABL E HOUSI NG UNI T S E ise nhowe r E ast Bloc ks 4/ 5 (upc oming) De ve lo pe r c o ntrib utio n vs. po te ntia l de ve lo pme nt rig hts fo r ~ 75 a ffo rda b le units in no npro fit spo nso re d pro je c t within mixe d-use de ve lo pme nt (ma rke t ra te re side ntia l, re ta il, g ro c e ry a nd se nio r ho using in e me rg ing me tro -o rie nte d a re a )

POL I CY R E : USE OF CI T Y-OWNE D L AND  No pe r se po lic y re a ffo rda b le ho using de ve lo pme nt o n City-o wne d la nd, b ut c o nside ra tio n g ive n to Ale xa ndria ’ s a ffo rda b le ho using g o a ls (la nd a nd do lla rs) whe n City-o wne d la nd is surpluse d a nd so ld  Ne w Sma ll Are a Pla ns inc lude la ng ua g e re c o mme nding future c o - lo c a tio n o f a ffo rda b le ho using use s with ne w munic ipa l fa c ilitie s  Be a ure g a rd: se nio r ho using / fire sta tio n  E ise nho we r We st: a ffo rda b le a ssiste d living / re c re a tio n c e nte r  No rth Po to ma c Ya rd: a ffo rda b le ho using / sc ho o l

JOI NT CI T Y-SCHOOL S MUNI CI PAL F ACI L I T I E S I NVE ST ME NT T ASK F OR CE (ONGOI NG)  E sta b lishe d to g uide future $ c o o rdina te d Ca pita l I mpro ve me nt Pro g ra m de ve lo pme nt a nd funding  Oppo rtunity to e xplo re o ptio ns to c o - lo c a te a ffo rda b le ho using , whe re fe a sib le , in c ity a nd sc ho o l pro je c ts

OT HE R COMMUNI T Y- SE R VI NG OPPOR T UNI T I E S  Ong o ing re de ve lo pme nt o f ho using a utho rity-o wne d pub lic ho using site s into mixe d-inc o me c o mmunitie s ma y yie ld ne t ne w a ffo rda b le units  City’ s Re so lutio n 830 po lic y re q uire s 1:1 re pla c e me nt o f a ll e xisting pub lic ho using units if de mo lishe d a nd re de ve lo pe d  Multiple c hurc h re de ve lo pme nt pro je c ts yie ld a ffo rda b le ho using (diffe re nt mo de ls a nd struc ture s)  Shilo h Ba ptist Churc h (se nio r a ffo rda b le )  St. Ja me s Pla za  Churc h o f the Re surre c tio n  F a irling to n Pre sb yte ria n Churc h  Alfre d Stre e t Ba ptist Churc h

WHY AL E XANDR I A HAS BE E N SUCCE SSF UL I N SE CUR I NG T HE SE OP P OR T UNI T I E S  Wide spre a d a wa re ne ss o f the ne e d fo r a ffo rda b le ho using  Co mmunity a nd po litic a l suppo rt fo r the impo rta nc e o f a ffo rda b le ho using a nd the re q uire me nt fo r c ity inve stme nt to ma ke it ha ppe n  Ope n a ppro a c h to inno va tive pro je c ts (i.e ., “ho w c a n we do this? ”)  Ca pa b le no npro fit de ve lo pme nt pa rtne rs, inc luding AHDC a nd ARHA  Stro ng re la tio nships with the sta te ho using fina nc e a g e nc y tha t a dministe rs L I HT Cs, a s we ll a s with le nde rs & inve sto rs  5+ ye a r pipe line c re a te d thro ug h pre de ve lo pme nt lo a ns  Appro a c h a dva nc e s o ppo rtunitie s fo r “de e p a ffo rda b ility”

He le n Mc Ilva ine , Dire c tor Offic e o f Ho using , City o f Ale xa ndria 421 K ing Stre e t, Suite 215, Ale xa ndria , VA 22314 He le n.Mc I lva ine @ a le xa ndria va .g o v 703-746-4990 www.ale xandr iava.gov/ Housing