cathy bennett july 12, 2010
DESCRIPTION
Presentation from the Bring Workers Home workforce housing regional forum in Minneapolis on July 12, 2010TRANSCRIPT
Housing Initiative
supporting a full range of housing choices
Our Call to ActionULI Minnesota actively
engages public and
private sector leaders to
foster collaboration, share
knowledge and join in
meaningful strategic action
to create thriving,
sustainable
communities.
7/12/20102
ULI MN/Regional Council of Mayors
• Mayors from 34 municipalities in 6 metro counties, including core cities, developed and developing suburbs.
• Collaborative, non-partisan.
• Focused on actions to raise the region’s overall innovation, economiccompetitiveness and quality of life.
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Housing InitiativeMission – Partnering to implement tools & strategies
that support a full range of housing choices - a diverse mix of housing types, sizes and prices within the region, within cities and within neighborhoods – for economic stability and regional prosperity.
7/12/20104
Financial support from the Family
Housing Fund
Gen Y represents the greatest magnitude and spending power
Overall, it is estimated that Gen Y influences “as much as half of all spending in the U.S. economy”
Over 35% of Gen Ys households earn above
$1.6 trillionThey represent
In earning power
Represents almost 30% of today’s population
$75,000
Over
Gen Ys today (1979-96)million80
Baby Boomers (1946-64)million~75
Robert Charles Lesser & Co. LLC.7/12/20105
Gen Y seeks diversity, walkability, and proximity to jobs
Gen Y will shift toward homeownership in 2012
In-town areas and inner suburbs will remain on an upward trajectory
2/3 say that living in a walkable community is important
1/3 will pay more to walk to shops, work, and entertainment
Robert Charles Lesser & Co. LLC.7/12/20106
7/12/2010
Opportunity City Program
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Minneapolis - St. Paul
1st Ring Suburbs
Minneapolis - St. Paul
Southern Suburbs
Minneapolis - St. Paul
2nd Ring Suburb
Housing Initiative - Community Change ReportsKey Metro Area Themes Emerged – through Pilot Program
First ring suburban regeneration Attracting move-up households
lack of housing options 7/12/2010
Affordable homes
Morehousing choices
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Where are residents working and where are workers living?
7/12/2010
Source: US Census Bureau (LEHD)
Best Practices/Technical Assistance
Housing Initiative
7/12/201010
Raise Awareness – connection between jobs, housing & transportation options
Housing Initiative
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• Cost Calculator -partner to expand use and efficiency in local decisions.
• Southwest LRT Corridor – Collaborate on Corridor Wide planning .
Decision-makers are implementing changes based on audit findings, data analysis, and best practices provided by the Opportunity City Program.
Local Response
“We had a lot of people telling us how wrong we as policy leaders were regarding the need for multi-family housing. After the Opportunity City
process, there was an acknowledgement that we do need
quality rental and multi-family housing. The Opportunity City
process has changed the dialogue and opened conversations regarding the need for a mix of housing options.”
Steve Lampi, Brooklyn Park Mayor
7/12/201012
“It concerns us that only 20 percent or our residents are able to stay in the city. We need to do a better job of
making people aware of the affordable housing options that we have in the community and work toward developing programs that
benefit the first time home buyers."
Sandy Martin, Shoreview Mayor
