Charlottesville’s Real Estate Blog since 2005.

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Regional

Affordable housing dealt a blow?

Alper states that the county?s affordable
housing guidelines, written to increase the amount of high-quality housing
within reach of low-income residents, oversteps authority granted the county by
the General Assembly.”

From tomorrow’s DP –

“A recent court ruling striking
Arlington County?s housing policy has called into question local efforts
to increase the amount of affordable housing in
Charlottesville.

The Dec. 10
decision by Arlington County Circuit Judge Joanne F. Alper states that the
county?s affordable housing guidelines, written to increase the amount of
high-quality housing within reach of low-income residents, oversteps authority
granted the county by the General
Assembly.”

Affordable housing is
one of the three most important issues facing our region, joining water and
infrastructure. Charlottesville and Albemarle also has “recommendations” whereby
they would “like” for developers to include a certain percentage of new
developments for affordable housing. These are not mandatory regulations that
must be met in order for a project to be approved; but … if the developer
should
choose of their own
volition
to implement an affordable housing
stock, their development stands a
much
greater chance
to be
approved.

How exactly does the
locality define affordable housing? Median income levels for the average family?
Average home sale price? What the family/individual could afford at market
interest rates? What about when interest rates are at 7% as opposed to
5%?

Should the market be left to
decide this? Government certainly has no business injecting itself into the free
market.

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I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.

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