Re: Affordable housing percentage
From: Kate Nichols (knicholsbellcoho.com)
Date: Thu, 17 Oct 2002 08:10:01 -0600 (MDT)
It has been my experience with the strict government guidelines for the grants that in order to afford to buy a house, at least in the case of this community - there was some family backing, an extra income from someone not on the mortage, in other wards there were other resources involved. A person at 50- 80% of median income will have other resources, unless your houses are considerably below market value. The government numbers were difficult to work with. I would think that it would help to discussions on values. Because a lot of the improvements that community members want, aren't necesssary to me. But some people really think we have to have a cleaning company clean our common house, matching dishes, paved driveway. Perhaps making sure that people can put enough money into savings and reserves to ensure the maintenance of the buildings would help. Kate, Bellingham Coho



We have had discussions over the past couple of years with a non-profit
neighborhood housing organization about developing an affordable cohousing
project. Well, things are getting a bit more serious and exciting as a
parcel of land is available they could procure. The costs pencil out below
market on a per lot or unit  basis.  We both agree we would like to do a
mixed income project of affordable and market rate units. In fact it could
be possible to do 50% of the units as affordable (to those from 50-80% of
median income). Any thoughts or experience doing cohousing project with a
high percentage of affordable units? One comment or concern I hear is that
it will be difficult in the future to get the community to do any
improvements to the property as there will be not be a lot of available
income. Any thoughts?

Bruce Hecht
Corvallis, OR


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