Affordable housing isn't just an urban issue - suburban planners are facing it, too

December 5, 2017                          By: John Aguilar

Westminster, Commerce City, Golden, Lakewood and Castle Rock are all responding to the challenge

The redevelopment of the former Westminster Mall has been billed as an opportunity to redefine suburban America. A piece of that renewal attacks a growing problem across the Denver metro area: the scarcity of affordable housing.

Construction continues at the site of the old Westminster Mall on Dec. 1, 2017 in Westminster.  RJ Sangosti, The Denver Post

To that end, at least 118 apartments at the heart of the marquee site will be open to people making anywhere from 30 to 60 percent of the area median income.

They will be among more than 600 affordable housing units in Westminster that have been proposed, are planned or are under construction — other suburban communities are making similar efforts — as home values and rental prices continue to spike in Denver.

“Westminster is being very forward-thinking — advancing workforce and affordable housing has been a high priority for the City Council,” said Jenni Grafton, senior economic development officer for Westminster. “But while it’s important that every municipality takes action at the local level, we have to take a regional approach to the problem.”..................Read More

Developers, advocates of affordable housing cautiously watch tax reform debate

December 4, 2017                                        By: Jim Buchta

Developers rush to finish projects amid worry that the GOP bill will stifle renovation and construction of apartments and houses for low- to moderate-income families.

Developers of affordable housing in the Twin Cities are bracing for the worst as Congress reconciles tax reform proposals that they fear will stifle renovation and construction of apartments and houses for low- to moderate-income families.

The view from a third-floor balcony facing a city park at Oxford Village, a new 51-unit affordable housing complex along Blake Road N. in Hopkins.

Though the fate of the change is unclear, several Twin Cities developers have been scrambling to line up financing commitments before year’s end. Fast-tracking those projects is expensive and complicated, but many worry that projects that don’t close before the end of the year won’t happen at all.

“There’s a ton of uncertainty,” said Chris Barnes, vice president and senior project partner at Plymouth-based Dominium, one of the nation’s largest rental developers and owners. “People are scrambling like mad to get everything closed.”................Read More

How Congress's Tax Plans Could Kill a Million Affordable Homes in a Decade

December 4, 2017                            By: Kriston Capps

Early on Saturday morning, the Senate passed a $1.5 trillion tax overhaul by a razor-thin margin. Draft pages of the tax bill were still being added to the legislation even as senators were debating taking the weekend to read the bill.

New housing construction in St. Louis. The Development is receiving federal low-income housing tax credits.//Jeff Roberson/AP

Looking at the Senate bill in the bright light of day, it’s hard to see any evidence that congressional Republicans see the tax code as a way to solve the housing affordability crisis. That’s one difference between the tax reform today and the last push in 1986, which used tax incentives to spur developers to build safe, affordable housing.

Tax reform in 2017 doesn’t include any ideas for making homes more affordable. Instead, Congress can only make the problem worse by transferring wealth to the very wealthy and sharpening income inequality. Instead of designing brand new credits to draw even more investment (profitably!) to poorer communities, the GOP is writing a tax bill to kill or curb the programs that work and funnel investment in the other direction...................Read More