The cost of buildable land is a key barrier to creating new homes in many communities. Without intentional collaboration across government, funding and development partners, the realities that surround the use of “free” or reduced cost land can increase the cost and delivery time of new homes.
State and local government can create an enabling environment for these transactions by authorizing land holding agencies, such as transit authorities, school systems and local government, to dispose of land at discounted prices when it is used for affordable housing. Land holding agencies can then look beyond their own processes to understand what other timelines and approvals may be required for financing affordable housing and seek alignment to reduce complexity and predevelopment costs. Agencies can maximize the impact of these investments by partnering with nonprofit developers, organizations and community groups that will center work on resident and community desires and forge a wide range of partnerships to best serve residents and communities.
Cedar Crossing and a pipeline of affordable, transit-oriented projects in Seattle offer several practical lessons for successful partnerships: