Cohousing-L Mailing List: Re: Affordable Cohousing

[Sharon Villines (sharon]

> On Nov 13, 2022, at 10:36 AM, Zev Paiss <zevpaiss [at] gmail.com> wrote:
> 
> Here at Nomad Cohousing in Boulder,Colorado seven of our eleven homes are 
> permanently affordable. This was imposed on us by the city in exchange for 
> giving us a density bonus. These homes can only be sold to future buyers who 
> meet strict income restrictions and the sales price of the homes are set by 
> the City to stay within guidelines attached to the area median income (AMI).

How has this worked out in terms of the prices of the market rate housing? When 
standards are based on the area median income or the area median house price, 
the market is still the baseline. 

Many are set at 80% of the area median but that is still out of reach for more 
than half the population. In DC the median house price is $635,000 (or $675,000 
according to others). 80% of that is still $504,000. 

I wonder how the prices would compare if the 80% base was determined the same 
way houses are assessed for banks. What is the sales price of the 
non-affordable units in Nomad?

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org