November 17th Newsletter
Hello,
RaleighForward and WakeUP Wake County are joining to host Raising the Roof | Housing Choices for Wake County. This annual reception is set for December 5th. We invite you to become a sponsor; details on investment levels are below. Please reach out with any questions!
We want to continue promoting community events over the next year and we will need your help to do so. Please consider making a donation so that we can increase our reach and make sure we all have a voice in Raleigh’s direction.
Reach out to eric@raleighforward.org to find out how you can get involved and what we have in store for the next year.
Articles of interest:
Raleigh asks NC Court of Appeals to dismiss the Hayes Barton Missing Middle lawsuit.
Paris Restricts Through Traffic in Center City, Bloomberg reports
6 Ways to Increase Affordable Housing ROI Through Design. Read it here.
To fix Inclusionary Zoning, Fund it, via Sightline.
Inclusionary zoning is failing low-income residents, expert has a solution.
This is a fascinating research paper exploring “The Law of Group Polarization.” As Raleigh is in the beginning stages of developing its next Comprehensive Plan, this research supports Raleigh’s tentative steps away from relying solely on self-selecting engagement tools by using a Citizen Assembly to gather resident input.
Here is an interesting article from the UNC School of Government exploring how local governments are providing gap financing for affordable housing projects. There is a chart that also shows the tremendous increase in the per unit cost of constructing rental units.
Architects can design attractive low-income housing, from Dwell.
According to this News Observer article, one bedroom rental rates in Raleigh dropped 6.8% over last year, while 2-bedroom units dropped 3.8%. More importantly, 9,228 additional rental units will be delivered to the market in 2024. This substantial increase in supply will continue to put downward pressure on rental rates in Raleigh in the coming year or two.
Atlanta Beltline surpasses affordable housing goals, eyes 7,500 unit goal.
Reports and Data Analytics:
Good news to see listings like this for condos in downtown Raleigh for $400,000, via Realtor.com.
According to the Wake County Register of Deeds, the median price of real estate in Raleigh remained steady at $460,000.
Items of interest in the week ahead:
Council meets on Tuesday, November 19th:
During the 11:30 work session, staff will update Council on the status of implementing the recommendations contained in the 2023 Disparity Study commissioned by the City. To review the agenda materials, click here.
Staff will summarize the details of a Memorandum of Understanding between the City and the Raleigh Housing Authority related to a joint funding agreement for a consultant to study the feasibility of a mixed-income financing structure designed to produce affordable units within market rate developments. Click here for the agenda materials.
Staff will provide an update on the City’s Alternative Response Unit. Click here for details.
Council will conduct a public hearing on TC-7-22 related to allowing co-living in additional zoning districts across the City. Click here for details.