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er housing Opportunities. Such flexibilities may include reductions, in setbacks, parking re-
<br />quirements, floor area, lot area, etc. We especially encourage higher densities near, employ,
<br />ment and transit com-dors and, new urbanism and mixed-use developmen,t�.,
<br />The chart, on the following' page show s
<br />'s net', houing densities, by product type that may be
<br />achieved., There is a movement in an Metro Area communities, to, smaller lot sizes
<br />through planned unit developments that results 'in higher, densities, and more affordable hous,-
<br />i,ng costs,.
<br />Sources: Maxfield Research Inc.,, Urban Land Institute, Site Planning
<br />0
<br />Affordable Housing. Due to the oilder housing stock of'bloth owner-locc,uplied and renter-
<br />occupied housing, the need for general occupancy affordable, housing is being o
<br />mstly ful
<br />I
<br />fi,ll,ed by the product, ' the marketplace. First-time home bluyers are able to, purchase en
<br />level homes, and many market rate rental developments have rents, that are considered af-
<br />fordable.
<br />However, there is a, need for more diversity among, housing types that are afford,abile, espiel-
<br />ciial,ly for families and seniors. Most of the existing housing stock, cannot, accommodate larg-
<br />er families that desire three or more bedrooms per unit.i In addition, there is a need for af-
<br />a
<br />fordable age-restricted housing with and without seirvices.
<br />We also recommend targeting', housing assistance programs towards producing housing for
<br />i
<br />flie workforce — or those households, earning between 80% and 12,0�% of AMI,
<br />Rnancial Barriers. The economics of developing affordable housing, are difficult to
<br />achieve, especially with increasing land costs and property taxes,. Partnerships between the
<br />City and developers should, be sought, to help alleviate some of the overall carrying, costs. In
<br />I
<br />MAXFIELD RESEARCH INC. 911
<br />I-Xiet 'Inits
<br />Product T"e
<br />- -- -- ---- --- - ------
<br />Per Acrie
<br />- ----
<br />il,/� It
<br />Single Fami'ly
<br />S,
<br />t
<br />Executive (�9iO" wide lot+)
<br />i
<br />Standard (60'=80'i wide loit)
<br />2.75 - 3.,75
<br />Small Lot', (lesis than 50")
<br />0 - 0
<br />Detached TommhomesNifllas
<br />4i.,50 -61.,00
<br />. . . . ........ ------- I" 01111"t."I'l
<br />. ............................................... . . . . . . . . . . . . ................................ . . . . . . ................................................ . . . . . . .........................................................
<br />T�Wn Homes
<br />J/,'�S'11171 ............................... . . ................ ...................
<br />6.,50 8.iOO
<br />Townhomes/Rowhomesi
<br />10i.00 14.00
<br />Low/Mid-Rise Multifamily
<br />40i.00 -50.00
<br />Six-Story Multifamily
<br />1
<br />65.00 - 7'5'.00
<br />HI-Rise Multifamily
<br />85+
<br />Sources: Maxfield Research Inc.,, Urban Land Institute, Site Planning
<br />0
<br />Affordable Housing. Due to the oilder housing stock of'bloth owner-locc,uplied and renter-
<br />occupied housing, the need for general occupancy affordable, housing is being o
<br />mstly ful
<br />I
<br />fi,ll,ed by the product, ' the marketplace. First-time home bluyers are able to, purchase en
<br />level homes, and many market rate rental developments have rents, that are considered af-
<br />fordable.
<br />However, there is a, need for more diversity among, housing types that are afford,abile, espiel-
<br />ciial,ly for families and seniors. Most of the existing housing stock, cannot, accommodate larg-
<br />er families that desire three or more bedrooms per unit.i In addition, there is a need for af-
<br />a
<br />fordable age-restricted housing with and without seirvices.
<br />We also recommend targeting', housing assistance programs towards producing housing for
<br />i
<br />flie workforce — or those households, earning between 80% and 12,0�% of AMI,
<br />Rnancial Barriers. The economics of developing affordable housing, are difficult to
<br />achieve, especially with increasing land costs and property taxes,. Partnerships between the
<br />City and developers should, be sought, to help alleviate some of the overall carrying, costs. In
<br />I
<br />MAXFIELD RESEARCH INC. 911
<br />
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