Abstract:
In many metropolitan regions across the country, higher housing costs around urban cores, job centers, and public transit are forcing lower-wage workers to move farther away from work to find more affordable housing. The link between public transportation and affordable workforce housing is especially important to the Research Triangle region in North Carolina due to the proposed rail investment, which could raise housing values near the stations. Therefore in order to mitigate gentrification and displacement in the region, this report analyzes 15 possible policy tools related to the Triangle’s housing infrastructure. Using multi-attribute utility analysis, a ranking of the 15 policy tools is generated; Federal Low Income Housing Tax Credits ranked number one, Inclusionary Zoning ranked last. Going a step further, the best combination of policy tools, along with potential applicable rail stops, is determined for workforce housing preservation and creation of rental and owner units. The product is a management and policy guide for client, local policy-makers, and housing developers to place workforce housing near light rail.
