Neighborhood Projects - Affordability Update
WHRF provided an update to the community on known neighborhood projects in November 2019. We presented to the community at a public WHAC Planning Committee meeting and at the regular November WHAC meeting.
WHRF wanted to look at the goals the neighborhood set for affordable housing and diversity of housing options to create a healthy neighborhood. We wanted to look at projects we know about to date and how they impact proportions of affordability, as well as at new projects we know are in the pipeline.
In the 2016 Walnut Hills Reinvestment Plan, we found that 24% of housing units in total were subsidized (including CMHA, LITC, and Section 8) and restricted to incomes at or below 60% AMI. Accounting for vacant units, we found that 30% of occupied housing units were subsidized.
The Reinvestment Plan lays out three housing goals:
improve/build new units to maintain the existing amount of low-income and supportive housing options indistinguishable from market rate
create options for existing residents to age in place or stay in the neighborhood by choice
diversify the offering for a broader share of the market that wants to be in neighborhoods like Walnut Hills (affordable, workforce, grad students, market rate, etc)
Our goal is to maintain affordable housing, while simultaneously diversifying housing options to offer for a broader share of the market. Our goal is to maintain 30% of occupied units as housing affordable to residents at or below 60% AMI.
This table shows our findings. Please note that the table is based on income restricts and available data. There are market rate units that serve residents at 0-60% AMI or under 120% AMI, but they are not specifically income restricted. Click on the table to see a larger image.