DATE: March 9, 2017
TO: Members of the Housing & Redevelopment Authority
FROM: Janine Atchison, Housing Coordinator
Title
Possible Development Options for Southbridge Property
Body
SUMMARY AND ACTION REQUESTED:
Three Rivers Community Action Agency is a nonprofit human service organization that serves primarily low-income families. Community Development Director Leah Hall from Three Rivers Community Action has been invited to attend the meeting and will speak to the HRA regarding possible development options for affordable housing at the HRA owned Southbridge property.
BACKGROUND:
The HRA partnered with Three Rivers Community Action in 2013 to develop the Spring Creek Townhomes which provided 28 units of affordable rental housing. The project included 4 two-bedroom units, 20 three-bedroom units, and 4 four-bedroom units and was built to LEED Silver standards. All 28 units were rented prior to the project received the certificate of occupancy indicating a shortage of affordable rental housing in Northfield. According to Three Rivers, there were more than twice as many income eligible applicants than available units.
ANALYSIS:
Two of the top recommendations of a 2012 Housing Study commissioned by the HRA were to develop an additional 36-40 subsidized rental units and develop 40-44 general occupancy market rate rental units. There have been no additional subsidized units developed since the Spring Creek Townhome project, and only four market rate rental units have been constructed. The demand for affordable rental units has likely increased in since 2012, and there continues to be a need for affordable rental units for lower wage workers and their families in Northfield.
RECOMMENDATION:
No Staff recommendations at this time.