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City presents 'Housing Forward' strategy and public housing tracker with 15,000‑unit five‑year target
Summary
Director Matt Wachter and DPCED presented ‘Housing Forward’ and a public housing tracker to the Common Council on Feb. 25, laying out the city’s five‑year goals, recent investments and an interactive dashboard tracking progress and affordable housing commitments.
Director Matt Wachter and DPCED presented “Housing Forward” and a public housing tracker to the Common Council on Feb. 25, laying out the city’s five‑year goals, recent investments and an interactive dashboard tracking progress and affordable housing commitments.
The goals: the city set a stretch target of creating 15,000 new housing units over five years to restore a healthier vacancy rate, and to deliver roughly 3,750 units that will remain affordable for long terms (defined on the tracker as 30 years, with a city target of 40 years when feasible).
Key accomplishments and pipeline items the city described: - City investments: $12 million in TIF and $47 million in affordable housing fund commitments have supported the creation of more than 2,500 rental homes, roughly 1,700 of which include long‑term affordability covenants. Those local investments leveraged more than $200 million of federal/state tax credit…
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