Proven Local Strategies For Expanding the Supply of Affordable Homes and Addressing Cost Challenges
Given the tremendous ongoing demand for affordable housing, increasing the supply of affordable homes through new construction and preserving existing homes that are affordably priced are critical. This white paper highlights proven local strategies for expanding the supply of affordable homes and addressing the rising cost of developing those homes. It draws on the successes of some of the country’s most expensive areas to offer options to communities working to address the scarcity of affordable homes and the rising cost of development, focusing on four key strategies: leveraging existing assets, creating public funding opportunities, utilizing land use controls and improving the approval process.
This white paper builds on recent Enterprise research on cost containment and solutions for expanding the supply of affordable homes, including Bending the Cost Curve: Solutions to Expand the Supply of Affordable Rentals and Public Benefit from Publicly Owned Parcels: Effective Practices in Affordable Housing Development. It was also informed by the High-Cost Cities Housing Forum’s 2018 convening in Los Angeles, which focused on discussing strategies for containing the cost of housing development.