![]() ![]() There are finite resources to finance the development and preservation of housing. There is finite available land in neighborhoods to consider. Clear city priorities will aid decision-making and highlight trade-offs: Given constraints, the city is facing stark trade-offs.It will be necessary to focus on specific income and population segments to maximize impact, instead of developing policy with too broad of a scope. ![]() The city will require regional and statewide partners to address the scale of this issue. The scale of the housing crisis is too large for one city to tackle and requires regional partners: It would cost roughly $4.9B in development costs to address the entire affordable housing deficit over the next 10 years.The City of Boise has the following key opportunities to consider as it contemplates policy decisions and strategic next steps: Specialized populations have unique housing needs: Homelessness, increases in refugee resettlement, and student enrollment create specific needs for dedicated housing development.Development is concentrating in a few planning areas: 41% of all new Boise construction in the last 5 years occurred in Southeast and West Bench.Land constraints necessitate more compact use of existing land: Neighborhoods, on average, need to increase housing density by 26% to meet housing demand.Affordable housing is increasingly more difficult to build: The gap financing needed to build a unit at 60% AMI is up to $115,000 per unit at the time this analysis was conducted in the summer of 2020.Construction is not keeping up with demand: Over the last 3 years, housing construction in Boise produced 4,146 units less than the need.Housing demand has increased: The City of Boise requires 2,770 units every year for the next 10 years to meet demand 77% of this demand is for housing affordable to those earning 80% or less of the area median income.
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