The housing team, and everyone’s quest to produce affordable housing, received some disappointing news. Our partners in this endeavor, Northwest Housing Alternatives (NHA), has informed us that our last and best concept for affordable housing turns out to be UNaffordable. When all the numbers were put into the computer, the cost of the project is not balanced out by the sale of the houses. While this setback is a major disappointment, and it takes NHA out of the picture, your housing team sees this as an opportunity to regroup, re-organize and research other opportunities.
Several factors contributed to the final negative outcome. The available land for the housing was reduced by the need for a parsonage, sidewalks on 60th, building restrictions on the wetlands on our south east corner, and a city code restriction of a driveway. This resulted in there not being enough property to build the quantity of houses to make the project viable. While this is a great disappointment, the reality is that only one of five projects like this successfully reach fulfillment.
Here is our evaluation of our status at this point in the process. Over the last three years much has been accomplished. We have established a wonderful relationship with NHA, learned many many things about affordable housing, and understand in more detail the requirements of the city and our conference.
During this research process, NHA has given us many things. These benefits include, but are not limited to, a myriad of architect plans, team education, a feasibility study, and a property survey, all at their own cost.
Your Housing Team has probably benefited the most in this process. Starting out with no knowledge of affordable housing, it was easy to gain knowledge and understand the process. Also, we have a full understanding of the cities requirements and costs, plus knowledge of the conference requirements and reactions. The best of all, given the last two months of pending deadlines, there is no near-future deadline to meet.
The last thing we have to say is STAY TUNED!
As information is gathered, it will be shared. Direct any questions you have to your team; Kamron Furlow, Linda Cook, Tim Stockton, Ervin Miller, Dave Smith, Bonnie and Mike Smiley.