Housing affordability is a major challenge for our region. Demand is high: Our region needs 320,000 more units by 2030 to keep pace with growth, according to targets adopted by local elected officials at the Metropolitan Washington Council of Governments (COG).
But with construction costs and market forces driving prices higher, how do we ensure we’re meeting our goals on new units while also ensuring new development remains affordable and easily accessible to low- and middle-income residents?
Just recently, area officials at COG endorsed two new planning tools to help the region optimize the areas around transit stations and prioritize underserved communities across our region. This too will help us work toward our housing goals, especially when coupled with innovative partnerships and initiatives with local businesses and philanthropies.
According to the Center for Neighborhood Technology, just over half of neighborhoods nationwide are affordable to a typical household. However,…
Read the full story from the Washington Business Journal.
