Stability

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Provide opportunities for residents to live in housing that meets their needs

The rising cost of housing threatens the ability of people to remain in their communities. Regional growth centers and communities near transit are home to more people of color and higher concentrations of poverty than the region as a whole. As these central places continue to grow and develop, residents and businesses who contribute to these communities should have the option to remain and thrive and take advantage of new amenities and services. The Stability strategies call for education and financial support to provide opportunities for residents to continue to live in community, and to promote development that ensures housing is near transit, childcare, and other services and amenities needed to improve quality of life.

Stability strategies include:

Strengthen tenant assistance and protections to provide opportunities for residents to continue to live in their communities

Increase access to home ownership

  • Advocate for a bill to support equitable home ownership assistance(External link) that expands home ownership and down payment assistance programs to provide support for renters seeking to purchase a home in their community.

Increase services and amenities to provide greater access to opportunity in low opportunity areas experiencing housing growth

  • Incentivize early childhood education centers, medical care, and other community serving commercial uses in mixed-used development. Stable, affordable housing and community serving commercial uses – such as early education, medical care, community banking, and social services – set the foundation for economic opportunity.

Leverage growth near transit and higher opportunity areas to incentivize and/or require the creation and preservation of long-term affordable housing

  • Use voluntary(External link) and/or mandatory incentives(External link) to include affordable housing in all new development in proximity to transit and in higher opportunity areas.
  • Adopt Multifamily Tax Exemption(External link) in all areas near frequent transit where allowed under state law. The multifamily tax exemption allowed by state law has been shown in PSRC’s survey of local jurisdictions to be the most effective tool at creating more housing and housing units at moderate-income levels.

Provide opportunities for residents to live in housing that meets their needs

The rising cost of housing threatens the ability of people to remain in their communities. Regional growth centers and communities near transit are home to more people of color and higher concentrations of poverty than the region as a whole. As these central places continue to grow and develop, residents and businesses who contribute to these communities should have the option to remain and thrive and take advantage of new amenities and services. The Stability strategies call for education and financial support to provide opportunities for residents to continue to live in community, and to promote development that ensures housing is near transit, childcare, and other services and amenities needed to improve quality of life.

Stability strategies include:

Strengthen tenant assistance and protections to provide opportunities for residents to continue to live in their communities

Increase access to home ownership

  • Advocate for a bill to support equitable home ownership assistance(External link) that expands home ownership and down payment assistance programs to provide support for renters seeking to purchase a home in their community.

Increase services and amenities to provide greater access to opportunity in low opportunity areas experiencing housing growth

  • Incentivize early childhood education centers, medical care, and other community serving commercial uses in mixed-used development. Stable, affordable housing and community serving commercial uses – such as early education, medical care, community banking, and social services – set the foundation for economic opportunity.

Leverage growth near transit and higher opportunity areas to incentivize and/or require the creation and preservation of long-term affordable housing

  • Use voluntary(External link) and/or mandatory incentives(External link) to include affordable housing in all new development in proximity to transit and in higher opportunity areas.
  • Adopt Multifamily Tax Exemption(External link) in all areas near frequent transit where allowed under state law. The multifamily tax exemption allowed by state law has been shown in PSRC’s survey of local jurisdictions to be the most effective tool at creating more housing and housing units at moderate-income levels.