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Alexandria’s Housing Challenge: Closing the Income-Housing Gap for Sustainable Growth

Addressing the housing affordability crisis in Alexandria, aiming to create new affordable units by 2025 through collaborative efforts and financial tools, ensuring housing opportunity for all income levels.

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Alexandria’s Housing Challenge: Closing the Income-Housing Gap for Sustainable Growth

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  1. Alexandria’s Challenge: Enhancing Housing Opportunity for All to Support Economic Growth That Benefits All October 7, 2019 2019 VML Conference Helen McIlvaine, Housing Director

  2. HOUSING CHALLENGE Growing gap in income vs housing costs Rent Residential assessment • Most low to moderate income Alexandrians (w/incomes up to $75,000) spend too much on housing Income 2000-2019 INCOME VS HOUSING TRENDS 27% Loss of ~16,000 market-affordable units (2000-2019) 73% Spend => 30% of income on housing (at the expense of healthcare, education, daycare, and savings) • 87% 15,187households 60% AMI 50% AMI Source: 2013-2017 American Community Survey 5-Year Estimates

  3. 2013 HOUSING MASTER PLAN • Housing for All • Housing options at all incomes, life stages, and abilities • Energy efficient • Healthy and safe • Accessible • Citywide distribution of affordable units to foster social and cultural diversity and mixed-income communities • Emphasis on opportunities in higher-density areas with access to transit, jobs and amenities HOUSING MASTER PLAN GOAL: Create new affordability in 2,000 units by 2025

  4. HOUSING MASTER PLAN PROGRESS January 2014-June 2019 2,000 UNITS WITH NEW AFFORDABILITY

  5. HOW AFFORDABLE RENTAL HOUSING HAPPENS VIABLE PROJECT TODAY’S CHALLENGE! $80-$95k+ $40k FEDERAL TAX CREDITS, HOME & CDBG, FEDERAL AND STATE GRANTS • STEEP INCREASES IN COST OF CONSTRUCTION COMMERCIAL DEBT CITY INVESTMENT NEEDED TO CONSTRUCT ONE NEW AFFORDABLE UNIT DEVELOPER INVESTMENT THE REASONS WHY… GAP FUNDING HOUSING TRUST FUND, MEALS TAX & OTHER DEDICATED TAX REVENUE • COST OF PROVIDING DEEPER LEVELS OF AFFORDABILITY (40-50% AMI) 2013 2019

  6. THE BLOOMAHDC/CARPENTER’S SHELTER • 97 apartments, including 10 permanent supportive units and new state-of-art shelter • Affordable for 40 years at 40%-60% AMI • Partnership between two local nonprofits to redevelop TOD existing shelter site • Shelter relocated to vacant Macy’s store at Landmark Mall • Bonus density, right-sized parking, City financial support ($8.8 M loan plus $350K grant for rental assistance subsidy), LIHTC • May 2020 completion date • FINANCIAL PROFILE: $22.6M Tax Credit (LIHTC) Equity $10.3M Private Debt $1.5M Developer Investment (fee) $1.6M Fed/State Housing Trust Fund $8.8M City Gap Loan ($91K/unit) • City Housing Trust Fund • Federal HOME and Match • General obligation bonds • Dedicated tax revenue • Meal tax revenue • $44.8 M TOTAL ($462K/UNIT)

  7. COLLABORATION—Integrating housing opportunity into planning • 2012 BEAUREGARD: • commitment to preserve 800 affordable units with 50% serving very-low income households; relocation coordinator hired; placement into Southern Towers affordable units and referrals to other housing resources and city services. 2019GREEN BUILDING POLICY • 2020ARLANDRIA - DEL RAY (MOUNT VERNON AVENUE) • 2017NORTH POTOMAC YARD: permit bonus densities of 30%; allow for potential ARHA replacement units; integrate universal design and incorporate visitability features, when feasible; permit micro-units; encourage colocation of affordable housing, including senior or assisted living, with future civic, municipal, and other uses where possible. • 2015OAKVILLE TRIANGLE: 65 units (mostly studios) affordable at 60% AMI approved for Triangle site to accommodate likely future workers; other projects in Route 1 area will follow the Housing Master Plan and contribution formula. 2017OLD TOWN NORTH: permit bonus densities of 30%; prioritize one-for-one on-site replacement of Resolution 830 units within the plan area; encourage artist housing; incorporate universal design, including visitability features. 2019 LANDMARK MALL 2018SOUTH PATRICK STREET: preserve housing opportunity and affordability along Route 1 South through redevelopment and additional density; ensure eligible tenants have the right to return and receive support and assistance to mitigate impacts of temporary relocation 2015EISENHOWER WEST: a range of affordable housing options throughout Plan area; co-locate housing with a municipal facility; permit bonus densities of 30% or more particularly where taller heights are allowed. ONGOINGEISENHOWER EAST

  8. CULTURALLY COMPETENT ENGAGEMENT AND DIALOGUE WITH THE COMMUNITY BEAUREGARD ROUTE 1 SOUTH PLANNING ROUTE 1 SOUTH IMPLEMENTATION ARLANDRIA

  9. NON-FINANCIAL TOOLS • Bonus density and height (20% to 30%) • Residential Multifamily Zone (density to incent preservation of deeply affordable housing) • Right-sizing parking • Co-location, including schools-housing • FY 2021 Work Plan: • Update to housing contributions procedures • Accessory dwelling units • Inclusionary zoning assessment/policy (may require GA authorization) • Co-housing and group housing • Rezoning to increase housing options in areas where appropriate • Mixed income/affordable assisted living • Enhanced tenant relocation assistance and anti-displacement protections

  10. FINANCIAL TOOLS New resources for housing preservation and production: • Funding from business, healthcare and philanthropy sectors (Greater Washington Partnership, Kaiser, Enterprise Billion Dollar Challenge) • JBG-SMITH/Washington Housing Initiative • New local resources (meals tax rate increase, Amazon +$1M, etc. totaling $8M/year • New state housing resources • Governor’s Executive Order #25 – enhance housing affordability to support economic development opportunity • VHDA REACH $15M/year for housing for HQ2/VTIC

  11. ALEXANDRIA’S EMERGING HOUSING CHALLENGES • Regional housing capacity (DMV area housing production is lower than before the recession and more is needed to attract economic development) • Ensure that economic development brings equitable benefits to community, including those impacted • Preservation, improvement and expansion of housing resources in neighborhoods most impacted by future economic development • Expiration/preservation of committed affordable units • Growing need for deeper affordability • Affordable assisted living • City’s aging condominium stock (source of housing affordability for many buyers) needs reinvestment

  12. Innovation and Partnerships—Alexandria’s housing opportunities • VHDA Amazon REACH funds to accelerate and prioritize affordable housing preservation and production in NoVA • Route 1 South Plan implementation • ARHA redevelopment and sustainability • Leveraging City investment with new funding sources • Converting commercial space for affordable housing • Co-location, including schools and public facilities • VHDA and nonprofit housing partners • Redevelopment of church properties • COG regional housing initiative and local targets • Collaboration with Arlington on joint housing solutions (managing inclusive growth) • Increasing local dedicated housing funds • Retaining federal support of housing • Housing Summit (Jan 2020) – Housing Master Plan check in/introduction of new housing initiatives (including planning and land use tools)

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