Newton Housing Initiative

Newton Housing Initiative“ ”

If we always do what we’ve always done, we’ll always

get what we’ve always got.

Demographic Facts and Predications

• 60% of the people working in Newton, DO NOT live in Newton

• 30% of all owner-occupied houses are headed by a person 65 and older

• Because of the City’s older population, deaths will exceed births over the next 10 years

• Without a 4% in-migration, Newton’s population will decline moderately over the next 10 years

• Newton has both an aging population and stagnant population growth

Sources: CHAT Report, Comprehensive Plan, Financial Trends Demographics

Housing Inventory Facts• The City averaged the construction of 5 single-family units

per year during the last 5 years• In the past 10 years, the number of vacant units increased by

about 50% and the vacancy rate increased from a little over 6% to about 9%.o Population, decline in housing quality, and foreclosures may account for a significant rise

in vacancy during the last 10 years.

Source: CHAT Report

The CHAT ReportIdentified our Community Strengths:• Existing housing stock• Excellent “Quality of Life” features• Location along I-80 and in proximity to Des

Moines

Identified our Community Challenges:• Maytag closing had the greatest impact on people

in their late 20’s and 30’s• The City lacks a reasonable supply of housing

that they can affordo Attracting jobs and people is meaningless without a housing supply

The Comprehensive Plan

Identified our Community’s View:• Housing is an economic driver and employer• Housing is the life-blood of a strong, lively, and

enduring community

Identified our Community Wants:• To Grow Newton’s population, specifically

targeting young families (Strategic Objective #1)• A concerted effort to address housing issues

How do you make a

“concerted effort”?• Invest in neighborhoods

o Upgrading the community’s housing stock o Improve the City’s curb appeal

• Kick-start housing development of all sorts and levels in order to promote and support community and economic developmento Young Professionalo Executiveo Startero Condoso Single Familyo Upscale Apartments

• Highlight the community’s strengths and resources

• Develop goals and pursue strategic objectives

“”

If you plan cities for cars and traffic, you get cars and traffic.

If you plan for people and places, you get people and places.

-Fred Kent, Project for Public Spaces

Community Strengths• Location• Population stability• Solid housing inventory (but declining in quality)• Quality of life features• Skiff Medical Center• Senior Housing• Land resources• DMACC• Organizational infrastructure

This is not a lost cause and is possible IF the City is willing to make an investment.

Strategic Objectives

• Objectiveo Develop an organization focused solely on

developing and restoring housing in Newton• What’s been done?

o NHDC has been reconstituted and is an active partner in addressing housing issues

• Moving Forwardo Capitalization and financing remain a

challenge, but progress has been madeo TIF financing is being considered

• Organizational Framework

• Housing Preservation• Land Development

Strategies• Property

Maintenance• Marketing• Downtown

Organizational Framework

Housing Preservation• Objective

o Rehabilitate low-priced homes and foreclosures

• Moving forward:o D & D was an effective program that is worthy

of reinstituting. • Should this include the purchase of low-

priced homes in foreclosures to be rehabilitated and sold?

• Should the homes be retained as rentals or rent-to-own program established?

• Should the focus be on demolitions only?

Strategic Objectives • Organizational

Framework• Housing Preservation• Land Development



Land Development Strategies

• Objectiveo Prepare, enhance, and market development sites to

developers and builders• What’s been done?

o Fountain Hills subdivision properties are assembled and the City has begun developing the RFP for builders

• Moving forward:o Small Redevelopment Sites

• Can we work with Habitat for Humanity?• Infill development

o Large Redevelopment Sites• Available sites for large development surround the

City on all sides• Infrastructure financing partnership must be set up

through public/private financing. This may include:o Revenue Bonds o Public infrastructure banko TIF o Infrastructure bonds





Property Maintenance• Objective

o Invigorate “Newton Quality” and “Red Pride” in the community, encouraging well-kept homes and neighborhoods.

• Moving Forwardo City has begun an aggressive property

maintenance effort





Marketing• Objective

o Develop and implement a marketing strategy targeting potential new residents

• What’s been done?o City, in partnership with the CVB, NDC, and

Chamber of Commerce have begun a Community Branding Plan

• Moving Forwardo The Comprehensive Plan proposes as a high

priority a community marketing initiative





Downtown• Objective

o Create a development plan for downtown with housing as an integral focus

• What’s been done?o Newton is in the process of applying for the

downtown to become a Main Street District• Moving forward

o The revitalization of downtown will help lead to the establishment of a Strategic Development Plan with housing as an integral focus.





Incentives & Investment• Housing is one of our highest priorities.• Development will not happen without a concerted

effort and investment on the part of the City, our partners, and the community as a whole.

• Options for investment as identified in the CHAT Report for Large Development Sites include:o Revenue Bondso Public Infrastructure Banko TIFo Infrastructure Bonds

• Incentives need to be considered in order to help jump-start the housing market

Summary Review• The existing housing stock is…in general, a major

capital and physical asset for the City and it needs to protected and maintained as any other physical asset.

• Housing development = Economic development. The CHAT Report suggests that we treat residential infrastructure as analogous to industrial park infrastructure.

• A goal of attracting more jobs and people is meaningless without a reasonable supply of housing that they can afford.

What role should the City play?

• Do we allow the market to drive the housing agenda?

• Should we just react to the market? Or do we try to control our future?

I recommend that… we identify the

future, develop a plan, and

make the investment.

”“Nothing ventured, nothing gained.

Newton Housing Initiative

Documents

Transcript of Newton Housing Initiative