New Orleans City Planners Propose Voluntary Affordable Housing Rules: A Shift in Addressing Housing ChallengesNew Orleans city planners are considering a significant change to downtown housing rules, making affordable housing requirements voluntary for developers. This move comes as the city struggles with a shortage of affordable homes. The current rule, which requires developers to set aside at least ten percent of units at affordable rates, has not resulted in any mixed-income projects. Developers can also opt to pay a fee instead of building affordable units.The proposed changes, which include incentives for developers who voluntarily build affordable units, are now awaiting approval from the New Orleans City Council. This shift reflects a new approach to tackling the citys housing challenges in a challenging economic climate. Factors such as a declining population, flat rents, and rising vacancies, combined with high interest rates, insurance, and construction costs, have made it difficult for projects to be financially viable. Some are advocating for more short-term rentals in downtown areas, arguing that they can make banks more willing to lend for new projects and help fill vacant lots and aging buildings.

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