During a recent government meeting, concerns were raised regarding the potential impact of investors on the availability of affordable housing. A key discussion centered on whether deed restrictions could be implemented to prevent investors from purchasing lower-priced homes and converting them into rental properties.

Officials clarified that while the city is responsible for zoning land to allow for lower-income housing development, it does not have the authority to impose deed restrictions on properties identified in the inventory of available sites. These sites are zoned to support the construction of affordable housing, allowing for a density of 30 units per acre, but they can also be developed as market-rate housing.

However, once specific affordable housing projects are developed and receive funding, they will be subject to deed restrictions that ensure they remain affordable for a designated period, typically 55 years. This means that while the city cannot restrict investor purchases on undeveloped sites, it can enforce affordability measures on completed projects.

The discussion highlighted the challenges faced by potential homeowners in a competitive market, where investors often outbid individuals seeking to buy homes for personal use. This situation raises concerns about the effectiveness of current strategies to maintain affordable housing options for low-income families. The meeting underscored the ongoing struggle to balance the interests of investors with the need for accessible housing solutions.