RV 2015: America's Affordable Housing Crisis: The Role of Transit by Steve Heminger
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Transit and the Bay Area’s Housing Shortage Rail~Volution Dallas, Texas October 26, 2015 Steve Heminger, Executive Director
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Transcript of RV 2015: America's Affordable Housing Crisis: The Role of Transit by Steve Heminger
Transit and the Bay Area’s Housing ShortageRail~Volution
Dallas, TexasOctober 26, 2015
Steve Heminger, Executive Director
How Hot Is the Bay Area Economy?
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$2,864
$1,344 $1,213$955
$526
Source: Franchise Tax Board, 2013
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Home sale Prices: National Context
Source: Zillow (1996-2014); inflation-adjusted to November 2014 dollars
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Adj
uste
d fo
r in
flat
ion
Med
ian
Hom
e P
rice
(In
1000
of d
olla
rs) Bay Area
Los Angeles
New YorkWashington DCMiamiPhiladelphiaChicagoAtlanta
MEDIAN HOME PRICES BY METRO AREA
Bay Area Housing Shortage –A 2+ Decade Crisis Bay Area has underbuilt housing for low and moderate
income households since the 1980s Since 1990 – just 35% of the Region’s Moderate Income Housing and
only 40% Low Income Housing Need has been built
Limited supply of Greenfield Sites
State eliminated Redevelopment and Affordable Housing Funding
Rapid Job Growth, Technology Boom and Foreign Investment
Bay Area is the Nation’s most expensive housing market
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Urbanized landPDAs■ < 5% of region’s land■ 80% of new homes■ 66% of new jobs
Non-urbanized land
Priority Development Areas Locally-nominated areas for development Frequent transit service
Nearly 200 PDAs in the region
No change to local authority over land use decisions
Build on an Existing Framework
PDA Planning Program
Comprehensive neighborhood-level planning
Links local community aspirations and regional objectives
Include programmatic EIRs to simplify development process
51 projects funded to-date 60,000 + housing units
103,000 + new jobs
26 million sq. ft. commercial development
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Presenter
Presentation Notes
Grants to local cities – up to $750k per grant Community involvement strategy Land use alternatives analysis Market demand analysis Affordable housing/anti-displacement strategy Multi-modal access and connectivity Pedestrian-friendly design standards Accessible design Parking analysis Infrastructure development/ budget Implementation plan/financing strategy
OneBayArea Grant (OBAG) ProgramRewards jurisdictions that produce housing near transit and create healthy communities
Eligible Projects Streetscapes
Bicycle and pedestrians
Safe routes to schools
Local streets and roads
Presenter
Presentation Notes
Federal transportation funding OBAG represents a Shift from past: Past - Transportation need-based approach – prioritize projects based on these needs (next slide will show how) OBAG: Money controlled at local level went from 20-40% Streetscape Improvements: Better access to transit, jobs, housing Bicycle and Pedestrian Improvements: Bike paths, sidewalk widening Safe Routes to Schools: Intersection safety, education Local Streets and Roads Preservation: Road resurfacing/rehabilitation
OBAG County Distribution Formula
8* Draft RHNA 2014-2022
** Housing Production Report 1999-2006, ABAG
Presenter
Presentation Notes
Shift from previous fund distribution - 2 big changes – moved more money to counties, housing is part of the formula, more discretion/flexibility at local level Emphasis on housing Arrived at OBAG framework/distribution formula in coordination with a variety of voices (incl. housing and equity advocates, city local streets and roads/public works, CMAs, planners, bicycle advocates, environmentalists, State fair-housing law IDs # of housing units, including affordable units, each community must plan to accommodate Housing Elements Current RHNA closely linked to Plan Bay Area land use plan Priority Development Areas Transit Employment
OBAG Requirements
Flexibility in distribution, but OBAG requires: Counties
70% of funds to be spent in PDAs
Development of PDA Investment and Growth Strategies
Cities
Housing element adoption
Complete streets resolution or consistency with general plan
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Presenter
Presentation Notes
Housing elements are part of the cities general plans Point to Kevin to describe housing elements and complete streets
Transit Oriented Affordable Housing Program (TOAH) $90 million revolving
Loan Fund
Projects located in PDAs, transit accessible
Loan products for affordable housing, mixed income & mixed-use projects
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Architect's rendering of the Eddy + Taylor Family Housing project slated for construction in San Francisco
Presenter
Presentation Notes
Redevelopment Acquisition Construction bridge Construction-to-mini-permanent Leveraged loans
Historical Trend for Housing Growth in the Bay Area
11Source: Source: Construction Industry Research Board (1967-2010); California Homebuilding Foundation (2011-2013)
