10% of the new homes are supposed to be affordable for low-income households
Because the developer is building some affordable homes, the city will waive several development standards to pack in all 76 houses by reducing in half minimum lot sizes, widths and setbacks.
Although the project’s switch from condos — which are typically more affordable than houses — means fewer residents likely will be able toThe nonprofit Urban Institute reported that the stock of multi-family units built for homeowners instead of renters represented only— the lowest in 50 years. The rate drops to 2.7% when adding all single-family and multi-family construction to the mix.
That’s why John Dalrymple, a political affairs consultant with Sheet Metal Workers Local 104, agreed with the developer that for any housing to be built on the site, the change to single-family housing was necessary. “I track every residential project over 100 units — when it gets an application, when it gets built — and I can tell you right now, it’s very, very challenging,” Dalrymple said. “ tried everything to get this built. They’ve reached out to a number of different partners with different ideas of how to finance it, so I think they’ve made their absolute best effort.”
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