Preserving

Affordable

Housing Near

Transit

Case Studies from Atlanta, Denver,

Seattle and Washington, D.C.

Sept. 27, 2010

2

Preserving Affordable Housing Near Transit

Collaboration with NHT and Reconnecting America

Studied TOD in Atlanta, Denver, Seattle and

Washington, D.C.

Identified 12 properties that successfully accessed

new capital/funds to preserve affordable housing in

planned TOD projects

Download a copy of the report:

www.greencommunitiesonline.org/TOD

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Key Findings From the Report

Leveraging new sources of capital subsidy,

local zoning incentives and pooled financing

Seeking flexible acquisition financing to hold

properties until financing is available

Securing unsubsidized rental housing near

planned transit

Engaging in collaboration with housing, transit

and planning agencies

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TOD Opportunities in Atlanta

MARTA guidelines

Housing Opportunity Bond program

Beltline Affordable Housing Trust

Tax credits

Land Banking Authority

5

TOD Opportunities in Denver

TOD acquisition fund

$19 million in NSP2

funds

Affordable Housing

Policy to govern land

disposition and joint

development

6

TOD Opportunities in Seattle

$145 million housing levy

Rainier Valley Community Development Fund

Incentive zoning programs

Washington Works program

7

TOD Opportunities in Washington, D.C.

Housing Production Trust Fund

Bridge lending resources

Tenant Opportunity to Purchase Act

Tax-exempt bond financing with 4% LIHTC

Greater Washington 2050

8

Preservation Strategies in Atlanta

Property:

Wheat Street Gardens

Strategies:

Targeting at-risk

properties near transit

Targeting physically

distressed properties

9

Preservation Strategies in Denver

Property:

Jody Apartments

Strategies:

Acquisition of

land/buildings prior to

price appreciation

Land banking

10

Preservation Strategies in Seattle

Property:

Brewster Apartments

Strategies:

Zoning incentives

New funding for rehab

Acquisition & targeting

at-risk properties

11

Preservation Strategies in Washington, D.C.

Properiy:

Martin Luther King Jr.

Latino Cooperative

Strategies:

Tenant laws

Pooled financing

Targeting at-risk

properties

12

Taking on the Challenge in Your Community

Take an affordable inventory

Identify acquisition resources

Asses repositioning resources

Map out strategic partnerships