#affordable-housing-policy

#affordable-housing-policy

City leaders have adjusted the Inclusionary Housing Ordinance to breathe life into dormant projects. The update shifts affordability tiers for rental units from 50, 60, and 100 percent of area median income to 60, 80, and 110 percent, easing the path for developers to move forward. This pivot aims at households caught between subsidized options and soaring market rates, fostering a broader mix of homes that reflect the city's diverse rhythms and needs.

The original policy tied private development to the public good. When developers built new market‑rate housing, they had to include affordable homes, some as low as 30% or 50% of the area median income (AMI) or pay fees that helped finance deeply affordable homes elsewhere. It wasn't perfect, but it at least tried to ensure that new development included racial diversity and people at the bottom of the income ladder.