Planned 367 Unit Tualatin Bridgeport Village Apartments Said to Have High Walkabilty Score.

DJC story is HERE. Google Map of address in story is HERE. (Looks like project is SW from REI store, if you know the area).

Originally created and posted on  the Oregon Housing Blog.

Report on California Housing Cost Containment Forums.

Nogradac has story, with link to report:

The California Tax Credit Allocation Committee (TCAC) yesterday released ..[a summary report] of... comments on scoring, public policies, land costs and local requirements. TCAC plans to gather and analyze more data and will hold a public hearing in September on the subject. Tune in to the Tax Credit Tuesday podcast on August 30 to hear more.

Originally created and posted on the Oregon Housing Blog.

Corrected Super Sunday Post: $2.3 Billion+ in State of Oregon Housing Tax Expenditures, Home Ownership AND Rental , 2011-2013.

Double Click to Enlarge

(Corrected chart and attachment to remove double counted Mobile Park Closure tax expenditure included in rental total) 
---
I have prepared the attached table and pie graph HERE (legal size to fit all the data) that shows a breakout of ALL State of Oregon housing related tax expenditures, including both home ownership and rental housing. Table includes a $$ and % comparison of the cost during the current 2009-11 biennium and the upcoming 2011-13 biennium. 

Some observations: 

1. Total 11-13 housing tax expenditures of $2.362 Billion are expected to increase by $362 million (18%)  in the coming biennium.
2. In earlier posts I noted that total Oregon General Fund support for OHCS, for both home ownership and rental housing, was $9.5 million [with a M] in the coming biennium), a decrease of $788,000+ (7.6%).
3. Home ownership tax expenditures will exceed $2.2 Billion in the coming biennium, an INCREASE of $357 million (19%) from the last biennium. 
4. Home ownership will account for 95% of the total of  State of Oregon housing related tax expenditures in 2011-2013.
5. Rental tax expenditures account for 5% of total housing related tax expenditures, and are projected to reach $114.5 million, an INCREASE of $4.6 million (4%)  in the coming biennium. 
6. Housing related tax expenditures that were less than $100k or that had no values are not included in the table.

Early in the week I will ALSO be posting an Excel workbook with ALL 378 State of Oregon tax expenditures, showing the estimated costs for the current and upcoming biennium included.  (Post will include filters and a pivot table, so you can make comparisons in a variety of ways).

Originally created and posted on the Oregon Housing Blog.

2009 Worst Case Housing Needs Report Out; Affordable AND Available Units Continue to Plunge for Low Income Renters.

Report is HERE; no state or local level data.  

Nonetheless, I HIGHLY recommend the report, particularly because it shows how affordable AND available rental units vary by income and geography and over time.

I excerpted two charts from the report into a 2 page PDF file HERE that shows as income decreases there are a declining share of units with affordable rents that ALSO remain available to these renters. (Higher income families occupy these units). 

Nationally, for extremely low income renters (=<30% MFI) in 2009 there were only 35.7 rental units that were affordable AND available for every 100 extremely low income renters nationally. I calculate that is a 10.5% decline in the rate of affordable AND available units for extremely low income renters since 2005. (Table from 1st page of linked attachment I created is above and shows this data--double click on it and it will open to larger size).

Moreover, In the West the number of affordable AND available units dropped to only 31.8 units for every 100 extremely low income renters--that's 10.9% worse than the national average of 35.7 units per 100 extremely low income renters. 

Report also has data that shows that

1. The ratio of affordable and available units are LESS in suburbs and non metro areas, compared to central cities.
2. The West has the lowest ratio of subsidized housing to need in the country, and the highest share of renters with worst case housing needs.

Two Take Aways

1. In housing needs planning, don't get caught just looking at the supply of housing. Supply means nothing to extremely low income renters if it is not ALSO AVAILABLE for extremely low income renter use on a priority or an exclusive basis. 
2. Absent a unlikely significant increase in [incremental] housing vouchers, unless the current supply of INCOME restricted rental housing for extremely low income renters is preserved AND expanded, the share of extremely low income renters who can afford AND find available renter units will continue to decline.

Originally created and posted on the Oregon Housing Blog.

I Didn't See this One Coming; Portland Gives Up on Multnomah Village Mixed Income Housing on Former Military Site.

I hadn't followed this in a while; DJC has story on demise of Multnomah Village affordable housing project HERE. 

Originally created and posted on the Oregon Housing Blog.

Housing Policy.ORG Includes Eugene in Dec 15th Webinar on Land Banking/Acquisition Funds for Rental Housing Near Transit.

From HousingPolicy.org email update:

Planning for Affordable Rental Housing Near Transit: Using Acquisition Funds and Land Banks: On [Wednesday] December 15 at 2:00 p.m. Eastern/11 a.m. Pacific we will be discussing proactive approaches for setting aside land for affordable rental homes near future transit investments. Stephanie Jennings from the City of Eugene, Oregon; Melinda Pollack of Enterprise Community Partners in Denver; and Dan Reuter of the Atlanta Regional Commission will be speaking.  Learn more and register here!

Originally created and posted on the Oregon Housing Blog.

Oregonian Front Porch Has Scoop on Metro Portland Rental Vacancies.

HERE. (and pasted below).

[Note: An earlier REIS report summarized HERE says that Portland had the largest quarterly .7% decline in metro market rents, bucking a national trend that saw rent increases during the quarter].

1. Downtown Portland apartment vacancies twice as high regional average: Apartment vacancies in downtown swelled to 14.1 percent in the first quarter of 2010, more than twice the regional average of 6.9 percent, according to the first quarter report from real estate firm Marcus & Millichap. The downtown market, from South Waterfront to the Pearl District, has seen a glut of new luxury apartments. In a post earlier this morning, appraiser Mark Barry said there will more than 3,100 luxury rental units built downtown between mid 2008 to late 2010. That doesn’t account for the shadow inventory of rented condos. Outside of the downtown market, Marcus & Millichap forecasts that job growth will spur people who are now doubling up to move into apartments. Vacancy, the firm says, will peak by late-2010. Rents will continue to slide and concessions to renters will rise through 2010. More affordable apartments for 20-somethings in close-in eastside neighborhoods will outperform the market this year, the firm says. And east Vancouver near SEH America’s new campus will be a growth market in the next few years.

Originally created and posted on the Oregon Housing Blog.

HUD Official Testifies on Impact of Foreclosure Crisis on Rental Markets; That NSP is Pretty Good , Eh?

House Financial Services subcommittee held hearing in Minneapolis today; web page for hearing is HERE.

HUD Official Erika Poethig, Deputy Assistant Secretary for Policy Research and Development testified at the hearing on the impact of the foreclosure crisis, ostensibly on the impact on rental markets; her testimony is HERE.

One Neighborhood Strategy Program Tidbit
If I am adding correctly the data on page 6 and 7 of the Poethig testimony, it appears that communities in Minnesota got $94.5 million in NSP 1 and 2 funding from HUD. (A significant share of their NSP 2 funding is for a land banking approach to acquiring foreclosed properties).

Minnesota's 2008 5.22 million population is 38% higher than Oregon's 3.79 million and Oregon received a total of $26.4 million in NSP funding. So, with a population 37% higher than Oregon, communities in Minnesota received 258% MORE NSP funding than Oregon.