Multifamily Executive asked three executives to define workforce housing. Here’s a part of what American Land Ventures’ Jason Robertson had to say:
As developers, we must attend to the needs of the essential workers in the community and develop ways to provide housing that is affordable to the people that are gainfully employed, making from 60 percent to 120 percent of Area Median Income (AMI), generally categorized as teachers, policeman and fireman. Unfortunately, most of the federal subsidies and tax credits come from serving residents below that income threshold, therefore it is incumbent on the local planning departments to incentivize development to respond to this critical need. If cities create the right programs, such as density bonuses, up-zoning and impact-fee waivers, market forces will respond and fill the void by creating housing that is affordable to this essential segment of our population.
You can read the rest here.