Affordable Housing

[FangKC]

Jerusalem Farm welcomes new neighbors in Northeast’s first community land trust home


https://northeastnews.net/pages/jerusal ... rust-home/

[Chris Stritzel]

Development Assistance Team requested for a new affordable housing development by the Vecino Group. Address on the application is 650 East Levee Road, 64106 but Google Maps returns no results.
https://compasskc.kcmo.org/EnerGov_Prod ... 811e37532c

Granted this might be related to something else (I seem to recall Vecino proposing an affordable housing development down in the center of the city).

[FangKC]

It's probably this.

What’s being called the Espero Kansas City project would be a four-story building located on an area described as Parcel 10 in the southeast corner of property controlled by Port KC around Berkley Riverfront Park.

https://cityscenekc.com/apartment-plan- ... iverfront/

Location.
https://www.google.com/maps/place/Kans ... ?entry=ttu

[FangKC]

In KC, close to 800 affordable units could receive boost from $9M Housing Trust Fund round

Kansas City officials soon could award funds to 10 projects in service of goals to add or preserve housing at different affordability levels.

The Housing Trust Fund advisory board recently gave the City Council a list of projects recommended to receive a collective $9 million through its latest funding round. Together, the projects amount to 776 residences — the largest total to benefit from a round so far — including a mixture of new and preserved affordable units, plus homeownership opportunities, and transitional and supportive housing units.
...
The list of recommended projects and developers:

Prospect Summit Townhomes — A project reserved for seniors 55 and older by Taliaferro & Browne Inc./Fulson Housing Group; recommended for $750,000 (24 units, affordable housing creation).
Jazz District III — A new mixed-use building by McCormack Baron Salazar Inc., with future phases to include preservation and redevelopment of remaining historic properties along the west side of Vine Street; recommended for $1.85 million (43 units, affordable housing creation).
Trails at Bannister Apartment Homes — A larger apartment plan that includes two- and three-bedroom options, plus 33 units as permanent supportive housing for individuals or families that suffer from a disability, by Pedcor Investments in partnership with Phoenix Family Care; recommended for $1 million (194 units, affordable housing creation).
Prospect at 35th — A project co-developed by Metro Lutheran Ministry and Consolidated Housing Solutions that includes construction of new rental units with supportive housing for those with special needs and families at risk of, or experiencing, homelessness and those living in poverty; recommended for $859,001 (25 units, affordable housing creation).
Northeast Community Land Trust — A sustainability project by Jerusalem Farm focused on current homeowners, restoring abandoned houses and revitalizing new homes in Northeast Kansas City; recommended for $230,000 (six units, homeownership and retention).
KC Urban Core Homeownership Fund — A project from By Purpose Productions creating attainable homeownership opportunities for households making up to 50% of the area's MFI through renovation and new construction; recommended for $400,000 (75 units; homeownership and retention).
Jazz Hill Homes — A renovation of 181 affordable one- and two-bedroom units in 10 historic colonnade-style buildings along The Paseo by Flaherty & Collins Properties; recommended for $300,000 (181 units; rental housing preservation).
Historic Northeast Lofts — A sustainable mixed-use project by Arnold Development Group with units at different affordability levels in more than 1 million square feet of existing buildings that make up the former Hardesty Federal Complex; recommended for $1.58 million (192 units; rental housing preservation).
DeLano Youth Housing and Supportive Services Redevelopment — A project initiated by Kansas City Public Schools that includes repurposing the historic R.J. Delano School to provide a drop-in center, a non-congregate overnight/emergency shelter with individual units for ages 14-18 and transitional living housing; recommended for $1.24 million (18 units; transitional and supportive housing).
Forest Hill Village — A conversion of 12.3 acres with an existing former elementary school into transitional housing for vulnerable, low-income families surviving domestic violence and unstable living by Synergy Services Inc.; recommended for $800,000 (18 units; transitional and supportive housing).

https://www.bizjournals.com/kansascity/ ... _source=st

[alejandro46]

Great news, and also think it's great that the Trust Board is also supporting transitional and drop in center projects.

Jazz Hill Homes — A renovation of 181 affordable one- and two-bedroom units in 10 historic colonnade-style buildings along The Paseo by Flaherty & Collins Properties; recommended for $300,000 (181 units; rental housing preservation).

How much more do these guys need to stop demoing the 1116 Paseo building or at least rebuild a modern reproduction of it? Even if they have to sell the land off to be market rate, just had to subsidize more vacant lots in dt KC. I'm not super familiar with this plan, but there is enough vacant land around this lot to build 5 equally-sized buildings, last thing we want is to just demo another one.

From CityScene:

UPDATE: 1116 The Paseo, one of the buildings planned for renovation in the Jazz Hill development, has been dropped from the plan because it proved too far gone to restore, according to the developer. It will be demolished, eliminating 16 apartments from the project. The PIEA board approved the change to the plan.

Sad to see



https://www.google.com/maps/@39.0997687 ... ?entry=ttu

[FangKC]

I saw this on X about the cost of creating housing.

https://x.com/TalktoARYZE/status/17270 ... 71613?s=20

[FangKC]

Great news, and also think it's great that the Trust Board is also supporting transitional and drop in center projects.

Jazz Hill Homes — A renovation of 181 affordable one- and two-bedroom units in 10 historic colonnade-style buildings along The Paseo by Flaherty & Collins Properties; recommended for $300,000 (181 units; rental housing preservation).

How much more do these guys need to stop demoing the 1116 Paseo building or at least rebuild a modern reproduction of it? Even if they have to sell the land off to be market rate, just had to subsidize more vacant lots in dt KC. I'm super familiar with this plan, but there is enough vacant land around this lot to build 5 equally-sized buildings.

From CityScene:

UPDATE: 1116 The Paseo, one of the buildings planned for renovation in the Jazz Hill development, has been dropped from the plan because it proved too far gone to restore, according to the developer. It will be demolished, eliminating 16 apartments from the project. The PIEA board approved the change to the plan.

Sad to see



https://www.google.com/maps/@39.0997687 ... ?entry=ttu

I have no idea, but I wish the City's development agencies required a separate independent engineer's report about the condition of the building and whether it's still a viable building or not. Before demolition, the City should not just go on the developer's assessment. They just might not want to deal with the building's issue. I wish the PIEA had made public what the specific reason was for demolition. It irritates me that the reporter never questions the developer to get the reason and there is no official to verify it.

[bspecht]

Ordinance introduced at Council for the "City Manager to identify methodology to measure & track gentrification and displacement risk... recommend an implementation plan." Assigned to NPD.

[im2kull]

Ordinance introduced at Council for the "City Manager to identify methodology to measure & track gentrification and displacement risk... recommend an implementation plan." Assigned to NPD.

Did they cut out all the extra non-source of income related junk that filled it the first two times it was discussed?

[bspecht]

The text has finally been posted: https://clerk.kcmo.gov/LegislationDetai ... FullText=1

Source of Income passed last week.

[FangKC]

Kansas City’s ban on rejecting housing vouchers — landlords say it’ll shrink options, renters think it’ll help

...
The Housing Authority of Kansas City runs the Housing Choice Voucher Program and gives preference to veterans and homeless applicants.

Edwin Lowndes, the housing authority’s executive director, said most of the families the authority serves live on $13,000 a year or less.

More than 17,500 people in Kansas City are waiting for housing vouchers. They apply to the housing authority for the help. Then they wait for confirmation that they’re eligible for rent subsidies. Then they wait some more for a voucher to become available.

“If a family were to apply today,” Lowndes said, “it’s typically gonna be three years before they come to the top of the waitlist.”
...

https://kcbeacon.org/stories/2024/02/08 ... imination/

[im2kull]

Kansas City’s ban on rejecting housing vouchers — landlords say it’ll shrink options, renters think it’ll help

...
The Housing Authority of Kansas City runs the Housing Choice Voucher Program and gives preference to veterans and homeless applicants.

Edwin Lowndes, the housing authority’s executive director, said most of the families the authority serves live on $13,000 a year or less.

More than 17,500 people in Kansas City are waiting for housing vouchers. They apply to the housing authority for the help. Then they wait for confirmation that they’re eligible for rent subsidies. Then they wait some more for a voucher to become available.

“If a family were to apply today,” Lowndes said, “it’s typically gonna be three years before they come to the top of the waitlist.”
...

https://kcbeacon.org/stories/2024/02/08 ... imination/

I personally have already seen about 100 rental units go up for sale as a result of the newly enacted SOI ordinance. Nobody wants to be forced into a government run program, that won't even guarantee on-time payment. The city's housing programs are terribly run and vouchers often take months to get paid. That's not acceptable to a landlord who would rather just sell then have to pay their own mortgage for someone else to live there.

[FangKC]

Jerusalem Farm Community Land Trust Paves Way for Affordable Housing in Northeast Neighborhood

...
A land trust is a legal arrangement in which land is owned, managed, and held for specific purposes by one party, in this case Jerusalem Farm, for the benefit of the broader community.

“Land trusts can be a tool to use to create a stable market of affordable housing in an area,” stated Jordan Schiele, Founder and Project Director at Jerusalem Farm.

Jerusalem Farm has bought a combination of vacant lots, abandoned houses and houses needing slightly less rehabilitation.
...
Jerusalem Farm has additionally been working to acquire 11 abandoned houses located in the Lykins, Pendleton Heights, Indian Mound and Scarritt Renaissance neighborhoods which are now in various stages of disrepair. Six homes are already in the rehabilitation process, with one already having been sold in July 2023. Five homes are in the process of going through the Abandoned House Act acquisition process before rehabilitation can occur.
...

https://northeastnews.net/pages/jerusal ... ghborhood/

[FangKC]

5 companies own 8,000 Kansas City area homes, creating intense competition for residents

Kansas City homebuyers are bidding against mega-corporations for houses. This is how real estate investment impacts local communities.

...
Investors are “intentionally targeting what has primarily been housing intended for ownership to turn it into rentals,” said Josh Akers, research manager for the Mid-America Regional Council.

A strong presence of large and out-of-state investors can have repercussions for tenants too, researchers found.
...
Thirty-three companies own nearly 14,000 homes in the Kansas City region, MARC found. Five of those companies own nearly 8,000 homes.

Nearly 45% of the single-family rentals in Jackson County are owned by investors with 100 or more properties, according to the study.

VineBrook Homes is one of the top five investor-owners in the region. Its latest SEC report shows that the Ohio-based real estate company owned 24,657 homes in 18 states as of December 2022.

VineBrook owns 1,118 properties in the Kansas City area, spokesperson Megan Grabos wrote in an email to The Beacon.
...
“Mega investors are operating in cash with large pools of liquid capital,” he said. “So interest rates don’t have an impact on their operations.”
...
Akers said a large presence of institutional buyers can push up home prices. He said that’s especially true for less expensive starter homes. They’re targeted by institutional buyers because of price, uniformity and ease of renovation.
...Large property owners also tend to consolidate ownership in certain neighborhoods. MARC’s study found that much of their holdings were concentrated in the region’s suburbs and on the northern and southern edges of Kansas City.

Owner clustering in one area can make it easier for companies to push up rent prices for tenants, while small-scale landlords are more subject to market rates, Akers said.
...

https://kcbeacon.org/stories/2024/02/28 ... ng-market/

[Anthony_Hugo98]

5 companies own 8,000 Kansas City area homes, creating intense competition for residents

Kansas City homebuyers are bidding against mega-corporations for houses. This is how real estate investment impacts local communities.

...
Investors are “intentionally targeting what has primarily been housing intended for ownership to turn it into rentals,” said Josh Akers, research manager for the Mid-America Regional Council.

A strong presence of large and out-of-state investors can have repercussions for tenants too, researchers found.
...
Thirty-three companies own nearly 14,000 homes in the Kansas City region, MARC found. Five of those companies own nearly 8,000 homes.

Nearly 45% of the single-family rentals in Jackson County are owned by investors with 100 or more properties, according to the study.

VineBrook Homes is one of the top five investor-owners in the region. Its latest SEC report shows that the Ohio-based real estate company owned 24,657 homes in 18 states as of December 2022.

VineBrook owns 1,118 properties in the Kansas City area, spokesperson Megan Grabos wrote in an email to The Beacon.
...
“Mega investors are operating in cash with large pools of liquid capital,” he said. “So interest rates don’t have an impact on their operations.”
...
Akers said a large presence of institutional buyers can push up home prices. He said that’s especially true for less expensive starter homes. They’re targeted by institutional buyers because of price, uniformity and ease of renovation.
...Large property owners also tend to consolidate ownership in certain neighborhoods. MARC’s study found that much of their holdings were concentrated in the region’s suburbs and on the northern and southern edges of Kansas City.

Owner clustering in one area can make it easier for companies to push up rent prices for tenants, while small-scale landlords are more subject to market rates, Akers said.
...

https://kcbeacon.org/stories/2024/02/28 ... ng-market/

There’s over 240,000 housing units in KCMO alone. This is a negligible issue.

[FangKC]

That is not the point. The point is about the houses actually on the market. There is a lot of competition for what comes up for sale right now. Large corporations are outbidding and are cash buyers. Individual buyers must go through an inspection, negotiate repairs with owners, get approval from underwriters, and close. By regularly being able to outbid, corporate buyers are driving up prices on all available houses. Add that to higher interest rates and fewer people can afford to buy homes.

[FangKC]

Developers Got Backing for Affordable Housing. Then the Neighborhood Found Out.

The push from an affluent community in South Carolina to kill a plan for 60 subsidized apartments brought into public view how hard it is to give low-income families access to opportunity-rich neighborhoods.

https://www.nytimes.com/2024/03/01/us/p ... =url-share

[Cratedigger]

Looks like the Biden Administration is focusing on affordable housing. Low income tax credits, a new $20 billion multifamily financing initiative, goals to build 2 million homes, etc

https://www.hud.gov/press/press_release ... _no_24_047

https://www.novoco.com/notes-from-novog ... able-homes

[KC_Ari]

Looks like the Biden Administration is focusing on affordable housing. Low income tax credits, a new $20 billion multifamily financing initiative, goals to build 2 million homes, etc

https://www.hud.gov/press/press_release ... _no_24_047

https://www.novoco.com/notes-from-novog ... able-homes

It's important to note most of it is begging congress to actually do their jobs and help Americans. There is only so many rules that can be tweaked without a bill being passed.
https://www.whitehouse.gov/briefing-roo ... -families/

[im2kull]

There's a discussion tomorrow morning at the Plaza Library at 10 AM hosted by the KC Regional Housing Alliance regarding affordable housing efforts at the state legislature to overturn some of the overly restrictive city actions. Lots of noteworthy speakers. I'm signing up and attending. Hope to see more of us pro-development minds there!

https://kcregionalhousingalliance.org/k ... march-9th/