Neighborhood Vision 2025
Stable, affordable housing is a key social determinant of health. MidTown must continue to be a home for residents and families of all backgrounds. Addressing long term affordability and displacement issues will require a multi-faceted approach to expand paths to purchase and homeownership. Financing, programming, and assistance are needed to reduce the stress often felt by local families in trying to maintain their homes or remain in the community as real estate prices fluctuate.
Explore a range of options to promote paths to purchase and homeownership and permanent affordability for local residents, including: Community-controlled land or development - Community Land Trust or Limited-Equity Housing Co-ops (LEHCs); Rent-to-Own Models; Limited Equity Co-ops.
Research applicability/feasibility of LEHC or lease-purchase models or limited equity co-ops
Planning & Research
Developers & Property Owners
Reduce Housing Stress
Allow and Encourage a Variety of Models to Promote Homeownership
Retain & Maintain Existing Naturally Occurring Affordable Housing (NOAH)
Retain NOAH by offering assistance for rehabs and system upgrades. Making housing improvements more affordable for homeowners may also protects rental prices in the area from spiking to due to cost-burdened property-owners.
Offer Homeownership / Education Counseling and Real Estate Training For All
Help residents better understand real estate and housing to empower them as MidTown evolves.