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Webinar: Preserving Affordable Housing in a Transit Corridor (CM |1.5)
April 27, 2012 @ 1:00 pm - 2:30 pm
In preparing for introduction of street car service along Columbia Pike, Arlington County is completing a new planning effort for existing multi-family communities. Increasing rents are already pricing out lower-income residents, and those pressures are expected to accelerate with the higher gas prices, highway congestion and that make living in transit communities so attractive. The plan’s goal is to preserve or replace all of the housing serving households with incomes up to 60 percent of the Area Median Income (AMI) and one-half of the housing serving households at 80 percent of AMI. Market and financial analysis is helping to guide the plan so that the density provisions for new units will support financial feasibility, increasing the likelihood that development will occur. The implementation plan incorporates a wide variety of affordable housing tools.