Last of two parts
First part is at thevoice.us/conversion-projects-in-new-york-solve-two-major-problems
That the COVID-19 pandemic is having a devastating impact on housing and homelessness, is an article by Pramod Sukumaran in Salud America!
“If you were to just apply a conversion rate of 10% we think you could get something like 14,000 units built, and a pretty sizable portion of that could be affordable housing,” Lodhi said.
“Other cities are doing these conversions, too, (from office buildings and hotels) without over-arching legislation.
“How Are other U.S. Cities Taking Action to Convert Buildings into Affordable Housing?
“Across the United States, many communities are transforming old buildings into new affordable housing.
“Here are a few examples:
“The hotel that will be converted to affordable housing in Charlotte (through Multi-Housing News).
Charlotte, N. C. (14.3% Latino). Blaze Partners and Argosy Real Estate Partners have teamed up to acquire a nationally-branded extended stay hotel. They will convert the 22-year-old hotel property into a market-rate multifamily community. According to the news report: “The repositioning will include a full rebranding and comprehensive capital plan focused on community enhancements and targeted unit upgrades to deliver a Class A multifamily property at attractive price points.
“Duluth, Minn. (2.3% Latino). A revised ordinance aims to remove a financial obstacle for people looking to redevelop condemned properties and turn them into rentals. Duluth Fire Chief Shawn Krizaj said in a news report that “the city has about 140 residences that have been condemned for human habitation, and many of them could be fixed up and turned into rental housing. But the city of Duluth charges property owners a $1,500 fee to convert an owner-occupied home into rental housing. That fee all too often deters the investment needed to return a residence to productive use.
“Boise, Idaho (9% Latino). City officials are reviewing a plan to buy a small office building near downtown and convert it into long-term affordable housing. As BoiseDev reported, the city has approved plans to buy the building for around $800,000 and place it in the city’s affordable housing land trust.
“Sacramento, Calif. (23.6% Latino). Mercy Housing California is transforming a century-old hotel into permanent supportive housing for individuals who are experiencing homelessness.
“Mercy Housing’s start on the Capitol Park Hotel represents a significant milestone for our city in our efforts to address homelessness,” said mayor Darrell Steinberg at a press conference. “With 134 homes now under construction, Mercy Housing’s team makes a significant contribution to our supply of much-needed permanent supportive housing. The federal low-income housing tax credit and historic tax credit equity from Enterprise Housing Credit Investments will be used in the $64 million project.
“Fairfax County, Va. (16.5% Latino). Leaders plan to transform the large Fair Oaks shopping mall and the area around it into a walking community with access to regional transit. According to the local news report:
“In November, the Fairfax County Board of Supervisors approved a plan amendment to redevelop Fair Oaks as a mixed-use community with about 2,000 housing units and the mall owner, Taubman Centers Inc., had sought the plan amendment and worked with county staff to develop it.
“For those wanting to take action, check out these 19 solutions to immediately ease the coronavirus pandemic and its impact on Latinos and people of color and make long-term strides to address underlying inequities that are aggravated during this time.”