With one of the most expensive housing markets in the country and a population that is expected to top a million people by 2045, what actions can be taken to mitigate DC’s affordable housing gap? Last week, the city unveiled a comprehensive report titled “Resilient DC,” which details the District’s plans to tackle housing challenges that currently exist and are anticipated for the future.
The plan proposes increasing the amount of market rate affordable housing by 25% by 2030. One strategy towards achieving this goal will be to boost the number of accessory dwelling units, such as by converting basements into apartments. Accessory dwelling units not only bolster the housing stock but also provide an additional source of income for the homeowner. Additional measures highlighted in the report include:
- Increasing the annual investment in the Housing Production Trust Fund to $130 million.
- Investing in more workforce housing for teachers, social workers, police officers, and firefighters.
- Crafting programs to produce deeply affordable housing for the city’s most vulnerable populations.
- Investing $15 million into the Housing Preservation Fund.
- Identifying residential parcels that are not built to currently allowable density.
- Increasing awareness of programs that help decrease the cost of owning and operating a home, such as property tax relief and weatherization.
Read the full report here.