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More than any government program, the marketplace typically can provide more housing that is affordable through the process of filtering: older housing stock becomes affordable to low- and moderate-income households as the older housing units decrease in value and higher-income households move on to new, high-quality housing. However, the marketplace has not provided an ade- quate supply of decent affordable hous- ing, especially in locations that are low in crime, have good schools, and are close to employment centers. And increasingly, workforce families—families earning too much to be eligible for housing assistance but often not enough to afford market- rate housing—are finding that having a job does not guarantee a place to live at an affordable cost. Recognizing that gain- ing public support for new affordable housing can be difficult, many commun- ities are exploring mixed-income housing as a way to provide workforce housing. The last decade’s rapid appreciation in home prices in many housing markets has outstripped the means of many moderate- and low-income working households, including teachers, police officers, sales clerks, and clerical workers, forcing many to spend more than 30 percent of their incomes––in some cases, as much as 50 percent—on housing. The dire shortage of workforce housing, especially near job centers, means that workers must endure long commutes from far-flung residential develop- 14 Stapleton Airport Redevelopment The city of Denver,under the leadership of Mayor Wellington Webb,has taken an aggressive stance in promoting the development of more affordable hous- ing. Denver’s former Stapleton Airport—currently the nation’s largest urban infill development—includes a mixed-income residential component. In 1999,the city of Denver and the Stapleton Development Corpo- ration selected Forest City as their private partner in the development of Stapleton. The 15-year plan for total buildout envisions more than 12,000 homes,3 million square feet of retail space,10 million square feet of office/industrial space,and over 1,100 acres of regional parks and open space.28 The Stapleton Wor kforce Housing Program designates 10 percent of the owner-occupied homes (800 units) and 20 percent of the apartments (800 units) for households at or below 80 percent of the area median income (AMI). To maintain long-term affordability of the owner-occupied homes, each of the units will have a deed with a 30- year price restriction that allows the owner to realize some of the home’s appreciation in the value but keeps the price below market value. At the end of the 30 years,a nonprofit entity—created to control and monitor the for-sale units— has the option of buy- ing back the homes at the restricted price and re-restricting the units,or letting them be sold on the open market and collecting the difference in price. Forest City also has donated acreage for 200 units of affordable housing that will be reserved for people with incomes of 30 to 50 percent of the AMI.29 Profile Myth #5 The marketplace can meet the demand for moderate-income housing. Fact #5 The marketplace needs help to supply enough housing, especially for working families; mixed-income developments can alleviate that need, providing housing that is safe, livable, and close to employment centers. The Stapleton Workforce Housing Program designates 1,600 rental and for-sale units for households that have incomes at or below 80 percent of the area median income (AMI). Roslyn Court offers the first homes for sale at Stapleton that will be restricted for purchase by police officers, firefighters, teachers, nurses, and others with “workforce” incomes. DR A W I N G C O U R T E S Y O F F O R E S T C I T Y - S T A P L E T O N