DT# 469 Proven Strategies for Solving Housing Shortages in Communities - Bethany Quinn Golden Shovel

PROVEN STRATEGIES FOR SOLVING HOUSING SHORTAGES IN COMMUNITIES ACROSS NORTH AMERICA  Bethany Quinn  -  Vice President of Strategy and Content Development for Golden Shovel Dennis is joined by Bethany Quinn from Golden Shovel, and they discuss PROVEN STRATEGIES FOR SOLVING HOUSING SHORTAGES IN COMMUNITIES ACROSS NORTH AMERICA, a Golden Shovel white paper.  For economic developers housing is one of the major topics we deal with, especially workforce housing. The data behind the Golden Shovel white paper and the role the pandemic played Pre-pandemic communities were facing housing shortages that negatively impacted their ability to grow. Compnaies needed more housing for their employees. People couldn’t move for employment opportunities because there wasn’t affordable housing Housing shortages are now at the forefront of public consciousness and the existing housing costs exponentially more.  Case-Shiller Index Report showed an 18.8% annual home price increase. Zumper’s National Rent Report showed that rent for a one-bedroom apartment hit an all-time high of $1,400 in 2022, for the national average– this is a 12 percent year-over-year increase. The United States alone has a housing shortfall of 3.8 million units. According to Freddie Mac researchers, “The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes. T Information Contained in a Housing Study The structure of a housing study varies from consultant to consultant and is based on community priorities. Some of the common features are as follows: • Analysis of current housing supply, broken down by owner-occupied vs. rental, and type of housing. • Report on the condition of current housing stock, including identifying the number of homes that should be torn down or need serious renovations to be livable. • Analysis of the affordability of housing for the existing workforce. • Estimate how many housing units will be needed, per category, over the next five years. • Location breakdown for housing demand (necessary for a regional report). • Determination of how many housing units need to be built as “workforce housing.” • Determination of how much senior housing will be needed. • A projection of how the housing needs could change if the EDO’s work results in job growth. • Analysis of the community’s current development capabilities and if outside developers will be needed to meet housing targets.  Best Practices  Pattern Zoning & Pre-Approvals As a Strategy in Claremore, OK  EMPOWER INDIVIDUAL HOMEOWNERS TO BUILD  INCENTIVES & POLICY TO SPUR WORKFORCE HOUSING DEVELOPMENT  TAKE AN ACTIVE ROLE IN THE DEVELOPMENT PROCESS  Spurring Housing Development Without Significant Capital in Clinton, Iowa  REZONE TO INCREASE DENSITY REPURPOSE LAND & BUILDINGS TURN BLIGHT INTO OPPORTUNITIES