April 23, 2014
Photo courtesy of Grimm + Parker Architects
Affordable housing in our region is a challenging issue. In this blog article, we offer the story of one of our towns trying to address it.
The Riverwoods at St. Michaels, a workforce housing development, will be completed in May. The development is slated to provide needed accommodation for some of the workforce population in our region. Given the town’s appeal to tourists and its plethora of high-value properties, affordable housing previously has been minimal. With the introduction of the Riverwoods development, the town hopes more workers will live downtown.
Housing prices and rental rates throughout the country have risen in the past decade, making it a challenge for lower-wage workers to live close to their area of employment or to afford owning a home.[1] An increased distance between workers and work has a negative effect on the community.
According to a report produced by the Joint Center for Housing Studies (JCHS) and the Center for Workforce Preparation (CWP), reducing workers’ commuting times contributes to their efficiency and productivity at work.[3] It also poses a critical question: “Are high housing costs undermining the type of competitive business environment that is essential to strong, vibrant communities? Should the increasing cost of housing therefore be added to the list of traditional business concerns?”[4]
In recent years, housing prices have risen faster than most incomes, making it difficult for workers to reconcile their cost of living with their distance/commute from work.[5] According to the JCHS and CWP report, “In Houston, Texas … the median price of a for-sale home in 2003 was $137,000, beyond the reach of elementary school teachers, nurses, retail salespersons, and janitors.”
Employers also struggle when their employees live far from work. Aaron Nelson of the Chapel Hill-Carrboro Chamber of Commerce commented on the drain this had on his town: “‘We
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