Housing News Roundup: April 24, 2015
Planned Affordable Housing Project is No Longer Affordable for the Developer
A public hearing that aired neighbor modification requests for sorely needed affordable housing in Richmond, California could derail the project. The developer says the changes to the planned 6-story building — including increased parking and more open space — cut back on the number of units that can be built, and so it no longer makes economic sense to even break ground. “This is an affordable housing project and there are no public funds that can be used. When the costs go up too high, the project is off,” said developer Alexis Gevorgian.
Source: San Jose Mercury News
Annual Homeless Count May Miss Many Rural Homeless Veterans
The annual “point in time” counts of homeless people conducted each January may miss many homeless veterans, especially in rural areas where people are more spread out. People facing housing challenges in rural communities are less likely to be in shelters or on the street, and are more likely to be staying with family or friends or living in other unstable housing. Local community members and service providers are critical for providing information on homeless rural veterans in need of housing help.
‘Permanently Affordable’ Housing in New Orleans
A new affordable housing development in New Orleans — The Jane Place Neighborhood Sustainability Initiative — is using the community land trust model to commit the planned apartments to low- and moderate-income families. Apartments in the development will first be leased to families with a maximum of 60% of area median income (AMI), which in New Orleans is $35,300 for a family of four. In time, 80% of AMI will be the ceiling to be eligible to rent in the development.
Source: The Times-Picayune
New Play Shines Light on Life in Chicago Public Housing Projects
The reality of living in public housing projects is coming to the stage in Chicago. “The Project(s)” is based on more than 100 interviews with current and former public housing residents in the city. “We want the audience to experience the extremes of pain and celebration that was lived in these places,” says playwright P.J. Paparelli, “and if the audience can feel that roller coaster ride, we did it right.” The play could move to other cities later this year.
Source: Next City
Mortgage Delinquency Rates Lowest Since 2007
The mortgage delinquency rate is at its lowest point in nearly a decade. The rate, which is the percentage of residential mortgage loans 30 days or more past due but not in foreclosure, dropped to 4.70 percent last month, according to data from Black Knight Financial Services. That’s the first time the delinquency rate has been below 5 percent since August 2007.
Source: DS News