HomeMy WebLinkAboutCommunity Housing Needs Assessment_02_24_2020Town of Danby
:3
Community,.,U Needs
AssessmentONO
+ Y ; �.l,•C „f �1 1' �� ~ � 716 s �
NY5 �i r
n�!���ON_d'
Y r � ifti
Funding Acknowle
Housing Cons ant
2/24/2020
➢ C.T. Male Associates —(Latham, NY) U REZ. d
Jim Thatcher, Manager, Community Development WM EG
MPA from Cornell
➢ Kormos and Company LLC — (Ballston Spa, NY)
Elizabeth Kormos, President
NYS Certified Women -Owned Business
KORMOS AND COMPANY LLC
_,TRATLGY • FI.ASIBILITS' - DEVELOPMENT
February 24, 2020
C.T. Male A—dat-
ProjectComponents
➢ Exterior Conditions Survey
- Extent of substandard housing throughout the Town
- Rating criteria provided by NYS
- Standard / Moderate and Severe Substandard / Dilapidated
➢ Housing Market Analysis
- Recent market trends
-Affordability issues
- Demand for senior housing
February 24, 2020
C.T. Mal Associates
Conditions Survey
�A
Substandard Criteria
➢ "Moderate" = 1 to 2 "major" defects
➢ "Severe" = 3 or more "critical' defects
2/24/2020
➢ Both Moderate and Severe can be restored to a standard or livable condition
➢ "Dilapidated" = 3 or more "critical' defects and CANNOT be restored at a reasonable cost
February 24, 2020
Conditions Survey
C.T. Male Associates
➢ Evaluation of exterior building components
➢ Nine (9) exterior factors
ME6
- Roof and Wall Structure, Siding, Windows and Doors, Chimneys, Porches and Steps
➢ 1,165 Units were evaluated — November / January
➢ 74% sample size (out of 1,560 Housing Units - ERSI)
➢ Results cross-referenced with County assessment data
February 24, 2020
C.T. Male Associates
3
➢ 35% Substandard / 410 Units
➢ 9% Severe / 25% Moderate
➢ 14 Dilapidated Homes (1%)
➢ Most common problems:
Roofing, Porches and Steps, Windows,
Siding, Fascia and Soffit, Chimneys
February 24, 2020 C.T. Male Associates
➢ All parts of the community
➢ Higher concentrations in Central
and West Danby
➢ Majority of substandard homes older
than 1980 and under $150k
- (More than 400 homes built during the 1980s)
February 24, 2020
C.T. Male Associates
Ell
2/24/2020
4
i
1
i` '?�
.aro. � .4. • , 1 •s,
1/
S-
_...,' T
yey
Wit.-_ P:r
1 I
I
t
Ell
2/24/2020
4
2/24/2020
Market
Analysis
Overall Housing Snapshot
➢ Homeownership: 71 % / Rental: 22% / Vacant: 7% (ERSI, 2019)
➢ Median home value: $180,163 / $190,000 County (ACS)
➢ Median age: 1975 / Burst of construction 1980-1989
➢ Single-family home sales since 2016: Median price $207,500 / $243K County
February 24, 2020 C.T. Male Associates
February 24, 2020
C.T. Male Associates
5
2/24/2020
Northern Danby Housing Trends
➢ Newer, larger, and higher value homes
➢ 45 homes sold 2016-2019 at a median price of $300,000
➢ Median age: 1990 / 2,160 square feet
➢ Sales prices growing faster than the Town as a whole
February 24, 2020 C.T. Male Associates
Affordable Housing
➢ 26% of all Home Owners spend > 30% of income for housing (PITI)
- Including 9% of Home Owners without a mortgage
➢ Households with incomes > $45,000 can find affordable homes
➢ Estimated 170 households cannot find an affordable / standard home
➢ Largest NEED are homes valued < $150,000 and suitable for $30,000 income
February 24, 2020 C.T. Male Associates
Market
13
Analysis
52
$0
<$15,000
92
Affordable Housing Gaps
➢ Substandard conditions are concentrated with homes valued < $150,000
- 67% Substandard Rate / 20% Severe and 44% Moderate
➢ Owners with limited incomes cannot keep up with repairs and upgrades
➢ Homes in northern Danby are newer, larger, and more expensive ($207k)
➢ Not enough "standard" homes at prices less than $150k (affordable to LMI)
February 24, 2020
C.T. Male Associates
2/24/2020
<$50,000
_$50,000 $99,999
$1001000 $149,999
$150,000 $199,999
$200,000 $249,999
$250,000 $299,999
$300,000 $399,999
$400,000 Plus
Total
Median $180,163
February 24, 2020
65
13
52
52
$0
<$15,000
92
92
92
74
51
23
75
$15,000
$30,000
177
25
15_2
244
194
32
162
237
$30,000
$45,000
152
144
8
252
368
9
359
596
$45,000
$60,000
152
30
122
374
170
3
167
763
$60,000
$75,000
155
155
529
93
93
856
$75,000
$90,000
103
103
632
105
105
961
$90,000
$120,000
159
159
791
41
41 __
1,002
$120,000
Plus
464 _
23
441
1,232
1,110
108
1,002
1,454
222
$74,8631
$866
C.T. Male Associates
16
23
224
-17
230
7
et AnalysiS,
Senior Housing
➢ Percentage of Danby residents age 65 and older in 2024: 24%
- Higher % than Tompkins County, especially for residents 75 and older
➢ Most Seniors 75 and older will have incomes below $75,000
➢ Wide range of senior incomes = larger variety of housing options
➢ Current houses / independent apartments / subsidized units / assisted living
February 24, 2020 C.T. Male Associates
Market
Demand for Senior Housing
➢ Moderate income Seniors ($35,000 to $75,000) can generally afford market rents
- $875 to $1,875 including utilities
➢ Lower income Seniors require subsidized rents (with or without other services)
➢ Demand for market rate Senior Apartments in 2024: 21 Units
➢ Demand for subsidized Senior Apartments in 2024: 36 Units
➢ Kormos considers this demand to be relatively LOW / Possibly met w/ existing facilities
February 24, 2020 C.T. Male Associates
2/24/2020
M
2/24/2020
Local Senior Housing
➢ Seniors wanting to age in place in Danby have limited options
- Northern Danby is closer to retail, medical, and social services
➢ Locating apartments in N. Danby could attract Seniors from other areas
➢ Central Danby offers parks, recreation, meeting spaces, and mass transit
February 24, 2020 C.T. Male Associates
Take
Auvays
➢ Diverse housing supply: Something for almost everyone
➢ Lower prices / available land = greater value
➢ Two-thirds of homes under $150k are substandard
➢ Gap in decent homes affordable to lower income families
➢ Limited demand projected for new Senior housing by 2025
February 24, 2020 C.T Male Associates
9
Next ep
➢ Apply for housing rehabilitation grant funding
➢ Annual competitions / 13 to 16 homes per Award depending on avg. costs
➢ Town -wide approach would focus grant $ to the most severe needs
➢ Build wait list of interested households / Identify additional Profiles
➢ Rehab impacts current residents quickly and preserves affordable
housing with a reasonable amount of public investment
February 24, 2020 C.T. Male Associates
On the Horizon
➢ Consider offering home buyer assistance with other towns / County
➢ Keep an eye on home sales in northern Danby
➢ Evaluate local development parameters / locations for new housing
- Current zoning incentives and/or obstacles
- Senior homes or apartments (clustered units, patio homes, assisted living)
- "Starter" home construction at prices affordable to low -moderate income buyers
February 24, 2020 C.T. Male Associates
2/24/2020
K
"A significant increase in the availability of new low-cost, for -sale homes has not materialized
and the bulk of new housing construction has been at the top of the market.... Continued work
to address housing for special needs communities, people experiencing homelessness, the
general rental market, and housing units for homebuyers with more moderate or lower
incomes will be needed to meet the Housing Strategy's goals in future years.
2018 Tompkins County Housing Snapshot
February 24, 2020
Jim Thatcher
C.T. Male Associates
1. thatchers-ctmale. com
Elizabeth Kormos
Kormos and Company LLC
Ikormos(d.kormosandcomoanv.com
February 24, 2020
C.T. Male Associates
r. i
:nzzl
C.T. Male Associates
2/24/2020
11