Planning & Development Services

Slide 1

Plan Element:

HOUSING

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Slide 2

Plan Element: Housing

Tonight’s Focus

1. Brief Summary

• Review

in preparation for

• Brown Bag Discussion on Housing Goals

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Slide 3

Existing Condition Highlights

n Variety of housing types

n Median value of owner-occupied homes is 24% lower than median for entire city

n Median gross rent is lower than for the entire city

n Over 70% of residential units are renter occupied

n About 33% of residences are single family

n Over 50% of residences are multi-family

n About 13% of residences are mobile home

Plan Element: Housing

Slide 4

Market Analysis

Findings re: Housing

Residential single-family housing market weak; multi-family market stronger

Strength of rental market reflects current national real estate market and proximity of area to UA and PCC

Students represent a strong and growing base for housing demand that yields higher than average rents

Projected Residential Development Through 2030

1,760 new units - with about 60% multifamily units or student housing and about 40% single-family homes and for-sale town homes and condominiums

Plan Element: Housing

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Slide 5

Market Analysis cont.

Preliminary Strategic Recommendations re: Housing

n Housing should be initial focus of revitalization effort; additional residents can enhance support of local businesses

n Current housing demand is for multifamily rental units and

n Once real estate market recovers and revitalization is underway, additional for-sale housing will be more feasible

Plan Element: Housing

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Slide 6

Visioning Sessions Key Points

(Presented as preliminary goal statements for thought)

Maintain a variety of housing types

Encourage homeownership

Preserve and upgrade existing affordable housing

Develop more middle income housing

Recognize growing demand for student housing

Address potential gentrification

Encourage more property upkeep and investment

Plan Element: Housing

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Slide 7

Plan Element: Housing

City Housing Initiatives Over the Years

Review to be presented by:

n Ron Koenig, City Community Services Department

n Carlos Portillo, City Community Services Department

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