CITY of VIRGINIA BEACHRESORT AREA STRATEGIC ACTION PLAN (RASAP)

AGENDA

City of Virginia Beach Housing Brief

WWW.BUILDWITHYARD.COM

YARD & COMPANY

Kevin is a leader in community development, economic and real estate development finance, planning, and placemaking.

Kevin’s work as Executive Director of the Walnut Hills Redevelopment Foundation (WHRF) from 2011-2018 received local honors and was featured in national publications such as The Huff-ington Post. It was there where he used his diverse background in storytelling and community planning to help a struggling organization develop a new brand and mission and grow from a staff of one contracted employee to seven full-time employees and several interns. Additionally, he grew the foundation’s budget ten-fold and developed a more sustainable and diverse revenue stream. Kevin has led teams in the creation and implementation of dozens of projects ranging from small creative placemaking activities to multi-million dollar real estate deals. These projects have included several public and private partners and a diverse set of public financing tools such as Tax Increment Financing, public loans/grants, and Historic Tax Credits.

Kevin earned a Bachelor’s degree in journalism from Missouri State University and received a Mas-ter’s Degree in Community Planning from the University of Cincinnati with a specialization in urban real estate and neighborhood development. Kevin serves locally on the Board of The Community Development Corporations Association of Greater Cincinnati, Cincinnati Neighborhood Business Districts United, is a member of the Urban Land Institute and was recently named to the 40 under 40 list by The Cincinnati Business Courier.

KEVIN WRIGHTPRINCIPAL, DIRECTOR OF OPERATIONS AND STRATEGY

PERSONAL EXPERIENCE

» Executive Director, WHRFCincinnati, OH

» Five Points AlleyCincinnati, OH

» Cincinnati Street Food FestivalCincinnati, OH

» Old Kentucky Makers MarketBellevue, KY

» Trevarren FlatsCincinnati, OH

» Paramount SquareCincinnati, OH

EDUCATION

» Bachelor of Arts, JournalismMissouri State University

» Masters of Community Planning, University of Cincinnati

ACCREDITATIONS

» ULI

» CNU

» CDCA, Board Member

» CNBDU, Board Memberkevin@buildwithyard.comLinkedINTwitter

RASAP Steering Committee - working session• Review & discuss individual edits to the draft• Form consensus around edits and revisions to text and graphics

Steering Committee AgendaMonday, September 23rd [2:00pm-5:00pm]

2:00

Next Steering Committee Meeting - Monday, 10/07/19 2:00 - 5:00 @ CVB Board Room

Schedule/Next Steps4:45

2:15

WHAT IS AFFORDABLE HOUSING AND HOW CAN WE MAKE IT HAPPEN?

R A S A P E x e c u t i v e C o m m i t t e e M e e t i n gS e p t . 2 3 , 2 0 1 9

Presented by Andrew Friedman, Director

OUTLINEW h a t i s “ a f f o r d a b l e

h o u s i n g ” ?

W h a t i s t h e n e e d i nV i r g i n i a B e a c h ?

W h o s h o u l d w e h e l p t o o b t a i n “ a f f o r d a b l e

h o u s i n g ” ?

H o w c a n h o u s i n g b em a d e “ a f f o r d a b l e ” ?

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Affordable Homeownership OpportunityVirginia Beach Community Development Corporation (VBCDC)

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Affordable Efficiency Apartments -Crescent Square Virginia Supportive Housingwith Cities of Virginia Beach and Norfolk, and NRHA

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New Construction Affordable HomeownershipVBCDC

Affordable Family apartments - Baker WoodsThe Lawson Companies

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Affordable Apartments for Veterans -Cedar Grove VBCDC

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Affordable Apartments by The Lawson Companies

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Beach Park West –Affordable Housing for Human Services ClientsVBCDC

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200 West –Affordable ApartmentsFranklin-Johnston Group

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Rehabilitated affordable townhomein Princess Anne Plaza Townhomes

• An appropriate housing unit(appropriate to the household’s size & accessibility needs)

• An opportunity for a household to obtain and maintain that unit (not a guarantee of housing -- no local government can provide that).

• Affordability: costs are less than 30-40% of household income.

• Condition: the housing unit is decent and safe (up to code standards)

• Availability: the unit is actually available to the person who needs it

OUR DEFINITION OF “AFFORDABLE

HOUSING”

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Affordable housing opportunity: a household pays 30% or less of its income for a decent, safe and appropriate housing unit.

No reference to the “true” cost of the unit, any particular unit, nor type of housing.

ALL of the pictures you just saw are examples of affordable housing in Virginia Beach!

AFFORDABLE HOUSING

OPPORTUNITY

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Soc ia l/governmenta l concern ar i ses when:

• choices are so limited,

• housing is so expensive that people are significantly impacted in their ability to afford the other necessities of life,

• or they simply are unable to obtain decent, safe and appropriate housing

WHO SHOULD GOVERNMENT

HELP WITH AFFORDABILITY?

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• “Assistance” amounts and types will vary as appropriate to the income level and type of housing, consistent with public goals and regulatory requirements.

• Deeper subsidies of various types are needed to help those with lower incomes

• Assistance for people with higher incomes should be less and in the form of loans.

• Limits are also placed on amount of rent, house value, assets, etc.

WHO SHOULD GOVERNMENT

HELP WITH AFFORDABILITY? (2)

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HOUSING AFFORDABILITY FOR TOP 10 OCCUPATIONS BY EMPLOYMENTSource: VCHR Tabulations of 2014 Virginia Workforce Connection Labor Market Information Data

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2014 Median Rent: $1,200

$289 $396 $463 $497 $590 $594$814 $870

$1,140

$1,906

$578$792 $926 $994

$1,181 $1,188

$1,627 $1,740

$2,280

$3,811

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

Max Affordable Montly Rent Max Affordable Monthly Rent, Doubled Up

RESORT AREA WORKERS NEED

AFFORDABLE HOUSING !

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Households earning less than a given percent of the area median income (AMI), taking into account household size.

Most federal housing programs limit eligibility to households earning 80% of the median income.

• Our metro area = approx. $63,450 for a family of 4.

WHO SHOULD GOVERNMENT

HELP WITH AFFORDABILITY? (1)

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PROJECT-BY-PROJECT SUPPORT FOR AFFORDABLE

HOUSING DEVELOPMENT

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We’ve used almost every tool there is to help make affordable housing projects happen:• Financing tools and providing

vouchers• Infrastructure and land

ownership tools• Support of proposals to

funders/financers; and designation of revitalization areas

• Innovative partnerships• Building it ourselves!

31 Developments

3,959 Total Units – including 2,082 new construction

3,678 Affordable Units

Elderly, Disabled, Homeless, Veterans

$172M of Private Equity

LIHTC FUNDED PROJECTS IN

VIRGINIA BEACH SINCE 1995*

*INFO FROM VHDA- THANK YOU!

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City funds

HOME and/or CDBG funding

Project-based vouchercommitments

Targeting for people with disabilities

FINANCINGAND

VOUCHERS

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Building significant infrastructure

Cost sharing on infrastructure

Reducing parking requirements

Selling public land

Identifying land/connecting sellers to developers

INFRASTRUCTURE AND

LAND OWNERSHIP

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Council Resolutions

City Manager Letters

Zoning Letters

Designation of Revitalization Zones

SUPPORT TO FUNDERS AND

AREA/SITE DESIGNATIONS

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Systemic Approaches to Facilitate/Allow

• 1 9 9 4 : Housing for Seniors and Disabled Persons per CUP/Reduced pkg.

• 1 9 9 7 : “In-Law suites” (Accessory Dwelling Units) allowed in limited zoning areas

• 2 0 0 3 : Strategic Growth Areas allow increased density/urban form

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• 2 0 0 7 : Single Room Occupancy Facility per CUP/Reduced parking

• 2 0 0 7 : Voluntary Workforce Housing Program-density bonuses

• 2 0 1 2 : Form-based Code adopted in Resort area, reducing need for re-zonings/CUPs

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A F F O R D A B L E H O U S I N G A S A N I N T E G R A L PA R T O F

T H E F U T U R E O F P L A C E S P E O P L E WA N T T O L I V E :

• Accessory structures/dwelling units (“in-law suites”)

• Mandatory inclusionary zoning

• Income-integrated housing development

SUMMARY

• Mismatch between rents and incomes in VB and U.S.

• We want to expand “affordable housing opportunities” so that renters can afford housing without sacrificing other necessities

• Virginia Beach has done a lot to support project-by-project affordable housing

• Opportunity to enhance systemic approaches through a combination of additional zoning changes, requirements and incentives

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THANK YOU! QUESTIONS & COMMENTS

A n d r e w M . F r i e d m a n , D i r e c t o rV i r g i n i a B e a c h H o u s i n g &

N e i g h b o r h o o d P r e s e r v a t i o n

a f r i e d m a @ v b g o v. c o m o r ( 7 5 7 ) 3 8 5 - 5 7 5 2