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Attachment A <br />CONCLUSIONS AND RECOMMENDATIONS <br />er housing opportunities. Such flexihi[ities may inc�ude reductians in setbacks, parking re- <br />quirements, floor area, lot area, etc. We especially encourage higher densities near employ- <br />rraent and transit corridors and new urbanism and mixed-use development. <br />The chart on the fallowing page shows net housing densities by product type that may be <br />achieved. There is a movement in many Metro Area coz�r►munities to smailer lo� sizes <br />through planned unit developments that results in higher densities and more affordable hous- <br />ing costs. <br />TYPICAL HOUSING DENSITIES $Y PR4DLICT TY�E <br />Net Units <br />Product Type Per Acre <br />1 1 1 <br />Single Family <br />Executive (90' wide lot-�} i.75 - 2.50 <br />Standard (60'-80' wide lot) 2.75 - 3_75 <br />Small Lof (less than 50'} 4.00 - 5.00 <br />Detached Townhomes/Villas 4.50 - 6.00 <br />1 1 <br />�'win Homes 6.50 - 8.00 <br />`FownhomeslRowhomes ] 0.00 - 14.flQ <br />Law/Mid-Rise MultiFamily 40.00 - SO.Oa <br />Six-Stary Multifamily b5.q0 - 75.OQ <br />Hi-Rise Multifamily 85 � <br />Sources: Maxfield Resear�h Inc., Urban Land lnstitute, Site Plarrning <br />• Affordable Hausing. Due to the older hoUSin� stock of bath awner-occupied and renter- <br />occupied housing, the need for general occupancy afforcfable housing is b�ing mostly ful- <br />Filled by the product in the maricetplace. First-time home buyers are able ta purchase entry- <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 ihat are affardable, espe- <br />cially far families and seniors. Most of the existing housing stock cannot accommodate lar�- <br />er families that desire three or more bedrooms per unit. In addition, there is a need for af- <br />fordable age-restrictad hausing with and without services. <br />We aIso recommend targeting housing assistance programs towards producing housing for <br />the workforce -- or those households earning between 8Q% and 120% of AMI. <br />Financial Barriers. The economics of developing affordable housing are difficult to <br />achieve, especially with increasing land costs and property taxes. Partnerships betwe�n the <br />City and de�elopers shauld be sought to help alleviate some of the overall carrying costs. In <br />MAXFIELD RESEARCH INC. 94 <br />