My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
05-7-14-PC
ArdenHills
>
Administration
>
Commissions, Committees, and Boards
>
Planning Commission
>
Planning Commission Packets
>
2010-2019
>
PC Packets 2014
>
05-7-14-PC
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/9/2015 3:33:34 PM
Creation date
9/22/2014 3:21:56 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
192
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
19 <br />Profilehousing constructed with low-income housing tax credits had <br />no impact on property values in the Milwaukee metropolitan <br />area, and led to an appreciation of property values in Madison.42 <br />Mixing more affordable housing types with higher-end residen- <br />tial development also can generate concerns about property <br />values—such as the perception that multifamily housing will <br />have negative effects on the property values of neighboring <br />single-family homes. However, there is no evidence that multi- <br />family communities have led to a devaluation of single-family <br />homes nearby. In fact, according to the American Housing <br />Survey, there is no evident difference in the appreciation of <br />value of single-family homes located near apartments or condo- <br />miniums and those that are not. For example, between 1997 <br />and 1999, the average annual appreciation rate for single-family <br />homes located within 300 feet of multifamily buildings was 2.9 <br />percent compared with 2.7 percent for single-family homes hav- <br />ing no apartments or condominiums within 300 feet.43 <br />The Impact of <br />Affordable <br />Family Rental <br />Housing on <br />Home Values in <br />the Twin Cities <br />A study conducted in the Twin Cities by Maxfield <br />Research examined how affordable rental tax-credit <br />developments affected adjacent property values. The <br />Family Housing Fund,a Minneapolis-based nonprofit <br />organization that supports the creation of affordable <br />housing in the Twin Cities,sponsored the study. The <br />research concluded: “There is little or no evidence <br />to support the claim that the tax-credit family rental <br />developments in [the] study eroded surrounding home <br />values.” More specifically,the study included the fol- <br />lowing findings: <br />•In general,homes in the subject areas around the <br />12 affordable tax-credit developments studied <br />exhibited similar or stronger market performance <br />after the affordable properties were built than <br />before,as well as stronger or comparable home <br />sales from a control group. <br />•The markets surrounding the tax-credit develop- <br />ments became stronger as a group compared <br />with the Twin Cities overall. <br />•The selling time on the market for nearby proper- <br />ties varied comparably before and after develop- <br />ment of the affordable rental housing. <br />•As a group,the subject areas—with both town- <br />houses and single-family homes—had a signifi- <br />cantly higher average annual per-square-foot <br />appreciation after the affordable rental devel- <br />opments were built than before.45
The URL can be used to link to this page
Your browser does not support the video tag.