Affordable housing • community land trust • inclusionary housing
I’m an expert in helping local governments and non-profit organizations create affordable housing in their communities.
A former banker in New York and Chicago, I left the corporate world in 1994 and moved to Carrboro with my wife, Bethaney. I recently retired from my role as executive director of Community Home Trust which is now recognized as a leader in providing permanently affordable housing that is integrated into market-rate neighborhoods.
During my time there we:
Affordable and Inclusionary Housing
Work with someone who has experience in the trenches.
Not sure where to start?
I can help you define the issues and design the solutions. Together we will evaluate options for sustainable housing models that are appropriate for your needs and may include:
Is housing affordability becoming more of a challenge?
What tools are available to address these challenges?
While serving as the Executive Director of Community Home Trust in Chapel Hill NC, we grew our inventory to 266 affordable homeownership units and 59 rental units.
We initiated the community land trust (CLT) model, administered Chapel Hill’s inclusionary housing program and acquired a tax credit rental property.
There were many twists and turns and lessons learned along that trail and I’m ready to share the knowledge of what worked to help put you on the path to success in your community.
Providing affordable housing in condominium developments presents a unique set of challenges.
The Town of Chapel Hill’s inclusionary housing policy required that 15% of each condo development be affordable. Although the affordable condos would be priced to be affordable to households earning less than 80% of median income, I was concerned that monthly condo dues and special assessments would cause these homes to become unaffordable over time.
Working with developers and the Town staff, I helped craft solutions to this potential affordability problem. One solution was for the Town to require that sellers of market-rate condos pay a 1% transfer fee to Community Home Trust. Those funds would be dedicated to assisting the affordable condo owners with monthly dues and special assessments (if necessary).
For ten years, Community Home Trust has been collecting those transfer fees, depositing the funds into a dedicated account and using the funds to reduce the monthly dues of our homeowners. Without the transfer fee, the increases in the monthly condo dues would have caused these condos to become unaffordable.
Contact Me for a free consultation
1536 Patthway Dr
Carrboro NC 27510
919-448-7769
dowlingconsulting1@gmail.com
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