A Primer On Workforce Housing

Thanks to incentives and increased demand, some developers are find workforce housing a viable development option.
November 15, 2004, 5am PST | Chris Steins | @urbaninsight
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"Unlike traditional suburban developments that average about six to 12 units per acre, a typical workforce housing development averages 25 to 40 units per acre, said Barry Curtis, principal planner for the city of Irvine. And prices average between $200,000 and $400,000.

Without such options, experts caution that teachers, firefighters, police officers, nurses and other critical industry workers who are unable to buy or rent in the communities they serve will move away and take valuable social and economic resources with them.

...But workforce housing is not without drawbacks. Deed restrictions safeguard against speculative buying. Most programs limit appreciation by requiring resale to moderate-income buyers for select periods and stipulating that buyers live in the homes for certain time frames before resale."

Thanks to Chris Steins

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Published on Sunday, November 14, 2004 in The Los Angeles Times
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