URBAN COTTAGES IN POCKET NEIGHBORHOODS

A Unique Offering of

Sensibly-Priced, Healthy Homeownership

Many Affordable Options Locating Further Out of Employment Centers…

…on Lower-Priced Land, But Requiring Longer Commutes…

A Number of Vacant Parcels In Boise Area…

Garden City Vacant Parcels Within 3 Miles of the Capitol Building!

Demographic Shifts Toward CBD or “CBD Fringe” Living...

�Downsizing Boomers

�Former Homeowners Re-entering Mkt.

�Singles & Co-Housers

�Millennials

Housing Market Drivers in Next 10 Years?

•“M&M’s”• (Millennials and Minorities)

• Have Different Needs & Preferences!

• Boomers Thinking About EXIT-LEVEL Homes

• More People Thinking “SMALL”

ADVANTAGES to Infill Housing

COMMUNITY HOMEOWNER

CLEANER AIR (Reduced Traffic) WALKABLE/BIKEABLE/CHEAP

EXISTING INFRASTRUCTURE MATURE NEIGHBORHOOD

ECONOMIC DEVELOPMENT EASY SHOPPING/SERVICES

DIVERSITY INCOME/GENERATIONAL MIX

LOWER CRIME/DISINVESTMNT AGE IN PLACE / FMV GROWTH

LOWER HIWAY MAINTENANCE GREENBELT/PARKS NEARBY

IMPROVED URBAN VITALITY STAY PUT IF JOB CHANGES

HEALTHIER RESIDENTS OCCUPANCY COSTS REDUCED

BLENDS WITH EXISTING SCALE LOW-MAINTENANCE LOTS

BARRIERS to Workforce Infill Housing

HOMEBUILDER/DEVELOPERS HOMEOWNERS

NIMBY-ISM (aka Cultural Conservatism) RISING AREA HOME PRICES

LAND COST/GENTRIFICATION EMPLOYMENT UNCERTAINTY

ZONING NEEDS TO CATCH UP ACCESS TO MORTGAGE LOAN

TRAFFIC IMPACT (LOCAL/REGION) INITIAL PRICE FOR “INFILL”

PERMIT COSTS HI FOR “SMALL” STUDENT LOANS (30%>90 Days Due)

RESISTANCE TO HIGHER “PER-

FOOT” PRICES (TRADEOFFS)

INTEREST RATE UNCERTAINTY

& INADEQUATE DOWN PYMT

NO ID HOUSING LAND BANK “DRIVE TIL YOU QUALIFY”

COMPLEX LAND DEVELOPMT EXISTING HOME PRICES HIGH

APPRAISALS/COMPARABLES CASH-INVESTOR COMPETITION

IDAHO’S CHALLENGES Affecting Housing

• Lowest Average Wages in US

• Quality of Jobs/ Underemployment

• Rising Home Prices

• Rental Rates Increasing (No End in Sight)

• Inventory of “Affordable” Housing Low (<$200K)

• “Real” Unemployment Rate @ 9.8% (Including

Marginally Attached Workers & Involuntary Part-Timers) (April 2015)

• Limited Transit Alternatives

• Existing Housing Stock Unhealthy

• EtcH..

A Few Related Statistics…

• Area Median Income: 80% of AMI = Low Income

• 85% of HUD’s Budget Serves Only EXISTINGResidents.

• 50% of Healthcare Costs Serve Only 5% of PopulationH Where Do They Live? In INADEQUATE, UNHEALTHY HOUSING.

• Annual Cost to Commute: $290 PER MILE! (Not

Counting Your Valuable TIME!) Estimates VaryH

• US HOMEOWNERSHIP RATE DROP Last 9 Yrs

• MEDIAN INCOME DOWN - 25-44 Year Olds > 1/3 of US HH Live ABOVE THEIR MEANS Re: Housing Cost

Urban Sample: 9 Homes on 2/3 Acre“43 Blackwood”– 43RD & Adams

-Sizes from 600-1,200 Square Feet

-Energy Start “Certified” = Monthly Savings-Remote Parking Allows Nicer Common Area-Access to Greenbelt, Parks, River & Shops

Pocket Neighborhood: 12 Units/Acre–“40 Banyan”– 40th & Adams

-600-1,200 Square Feet 1-2 Story Designs

-Remote Parking Creates Nice Common Area

Pocket Neighborhood: 24 Lots on 2 Acres“36 Oak” – 36th Street Near Waterfront D

-Cottage, Detached, Attached & Live/Work TH

Sample “Urban Cottage” Style

Sample Infill Cottage Floorplan: 616 SF

Other Infill Alternatives:“SKINNY” Homes: 14 Units Per Acre

- People Can Live Closer to What Matters- 1,450 Square Feet- 2-Car Garage- Done Properly, Can Enhance Existing Area

MY SENSE OF INFILL HOUSING’S FUTURE

• Commuting costs will play a larger role in selecting homes. Walkability, HERs, Health...

• More people are looking for compact, energy

efficient CBD and “Fringe” alternatives.

• “M&M”s will shape future market trends.

• Gentrification, NIMBYism and Displacement will continue to pose challenges for infill.

• Movement toward tiny and compact housing will continue.

• Education Key to Healthy Homeownership.

• Check out NeighborhoodHomes.Org

“EMBRACE THE FRINGE!”