Target: Convert vacant student housing units into affordable housing units by working with Community Land Trust.
Current performance: See update below.
Through innovative approaches, the City is furthering affordable housing by providing incentives to developers to build and preserve affordable units. Part of this preservation is converting vacant or former student housing to affordable units available to families. In early 2022, the City approved a Payment in Lieu of Taxes (PILOT) Agreement with Plantations at Pine Lake, a former student housing development that is now converted to 81 affordable family units. Following this action by the Commission, the same developer purchased and converted three more former student housing developments, adding another 352 affordable family units.
Housing & Community Resilience. Last Updated: December 2022.