Build Workforce Housing to Meet Economic Demands
A workforce housing project in New York will be funded through low income housing tax credits and a low income housing trust fund loan through the state
A workforce housing project is set to break ground this spring in Oneida, New York. The initiative will be funded through low income housing tax credits and a low income housing trust fund loan through the state.
Oneida is embarking on the construction of workforce housing facilities that will feature one-, two- and three-bedroom units. The affordable housing development will be funded through $880,000 in low income housing tax credits as well as a $2.2 million low income housing trust fund loan, the Oneida Daily Dispatch reported.
The multiunit housing facility will be constructed on a vacant lot and offer:
- 40 housing units
- Community building
- Fully-furnished computer room
Each residential building will offer laundry facilities, storage space and parking spots. Tenants will also have access to an outdoor pavilion with garden planters, as well as bike paths that connect to nearby trails and city streets. The workforce housing is designed to not only offer more affordable options to residents, but also mitigate the threat of flooding, the Oneida Daily Dispatch reported.
Pembroke Tax Credits
The Georgia Department of Community Affairs recently awarded the city of Pembroke with federal housing tax credits that can be used to construct affordable workforce housing in the region. The city plans to build 60 workforce housing units to support working families, Savannah Now reported.
The Georgia Department of Community Affairs has a total of $22.4 million in federal housing tax credits that it will disseminate across 30 locations statewide. Georgia leverages federal housing tax credits to construct and preserve affordable housing options for a variety of populations including:
- Working families
- People with special needs
- Police officers
In Pembroke, a housing inventory revealed a lack of affordable housing to meet public demand. The workforce housing development project will cost $9.5 million and include three-, two- and one-bedroom townhomes, Savannah Now reported.
Officials in Portland, Maine, are considering a workforce housing development project on land currently occupied by the city’s public works department. The housing would not be federally subsidized for low-income buyers but could be sold at below-market prices. This would enable more working families in the area to afford the units without a subsidies program, the Portland Press Herald reported.
The housing development would include 45 owner-occupied two- and three-bedroom units sitting above retail and restaurant space on the ground flood.
While the city would consider making funding available for the housing development project, it would prefer to offer no subsidy. Portland has already set aside $3.05 million in capital funds for the relocation of the public works department, which is how the land became available for redevelopment.
Because a local nonprofit already offers federally subsidized housing in Portland, city officials want to offer below-market price units to fill the gap between subsidized properties and market-rate units, the Portland Press Herald reported.
Modern Housing Strategies