WAHP Workforce Housing Briefing Loudoun County, Virginia April 19, 2006.
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Transcript of WAHP Workforce Housing Briefing Loudoun County, Virginia April 19, 2006.
WAHP Workforce Housing BriefingWAHP Workforce Housing Briefing
Loudoun County, VirginiaLoudoun County, Virginia
April 19, 2006
Housing TrendsHousing Trends Nationally and regionwide housing prices have
plateaued…..even dropped
Land prices and construction costs are also starting to slow
Investors (aka speculators) are GONE
Condo market supply has exceeded demand in the short term
Pipeline projects starting to drop out
Disparity between income and home prices--along with traffic—staring to drive people away
Demographic Shifts in the RegionDemographic Shifts in the Region
Western suburbs will retain highest incomes and home prices
Desirability of urban, infill locations– Singles and Couples– Gen Yers– Families living in the urban core
Immigrant homeownership will continue to rise Outlying suburbs will still be dominated with
SFD & families (by choice?)
Place Matters More than Ever!!Place Matters More than Ever!!Land and home values near transit
stations and corridors retaining (some still increasing) their value.
Balance in homes and jobs essential for region’s economy
Compact development, with amenities, in the suburbs desirable and fiscally responsible
We can do BetterWe can do Better Fact—Between 2005 and 2010, the Washington
DC region will grow by 470,000 people and 180,000 households.– Question—Who are they? Where will they live? How
will they live?
Strong, healthy communities have:– Walkable, mixed-uses – A mix of homes for a wide range of residents– Green space – Strong economies– Balanced budgets
A Plan for Tomorrow
» Build a new model.
» Strong, healthy communities have:– Walkable, mixed-uses
– A mix of homes for a wide range of residents
– Green space
– Strong economies
– Balanced budgets
Well Designed Density
Urban-Advantage.com
Well Designed Density
Urban-Advantage.com
Attracting the Best
» Compact development offers homes that are within reach of vital community members such as:– Teachers – Nurses– Fire fighters– Police officers– Retail salespeople
» And our own children!
Balancing Our Budget
» Compact development reduces infrastructure costs and saves money.
– Average annual cost to service a new family of four (police, fire, highway, schools and sewer):
• Compact suburban Shelby County, KY = $88.27• Sprawling Pendleton County, KY = $1,222.39
– Sources: Brookings Institution
Balancing Our Budget
» Nationally, the U.S. can save over $100 billion in infrastructure costs over 25 years by growing compactly.
» Chicago can save $3.7 billion over 20 years by growing compactly.
» Charlottesville, VA can save $500 million in transportation costs with compact development.
– Sources: Urban Land Institute, Chicago Metropolis 2020; Thomas Jefferson Planning District Commission
Take Action
» The future is our choice.
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