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Irving consultants outline tools to reduce housing development costs, urge targeted incentives
Summary
Consultants leading a City of Irving public session said accurate market analysis, faster entitlement, and targeted use of city-owned land and incentives — including Neighborhood Empowerment Zones and community land trusts — are key to lowering development costs and expanding affordable housing.
Irving officials and consultants reviewed strategies for lowering the cost of producing housing at a public input meeting attended by residents and local developers.
"A housing problem can really be described as basically two economic problems," said Raquel Favela of the National Development Council, summarizing the day: affordability (a gap between what households can pay and market prices) and disinvestment (areas where costs to build cannot be supported by rents or sales). Favela urged the city to combine national examples with local feedback to choose tools that fit Irving's market.
Favela and other presenters said five core pieces must be in place for viable development: accurate construction-cost estimates; clear market and demand analysis; reliable appraisal inputs for…
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