Ohio’s communities do not have a sufficient inventory of quality, attainably-priced homes for homeowners or renters. This is putting immense pressure on the entire housing market.
And many places have underutilized commercial districts that could provide the amenities and services Ohioans need. In Ohio’s current real estate environment, financing and producing affordably-priced products is difficult. Outdated zoning codes can compound costs.
State investments that help communities correct their zoning codes, adopt new housing production tools, control costs, and lower risks will retain current Ohioans and attract prospective employers and residents.
Communities know there are many benefits to doing residential in-fill development. But such projects can be hard to finance and build. Other cities around the country are seeing promising outcomes from ‘pattern books’ or collections of architectural designs, which a city or county preemptively approves for use within their jurisdiction. Pattern books, particularly for trickier infill lots and neighborhoods, will help lower developer fees and shorten development timelines.
State funding and programmatic support to help local governments institute common zoning changes will also improve local conditions for development. Such funds can help local communities create and adopt their own pattern books and/or better coordinate operations to more effectively support housing development.
What would you do to assist communities in establishing zoning codes that reduce the time and paperwork needed to build structures the market demands and communities need to grow and succeed?
Do you support providing resources to local governments that want to use a publicly available statewide Pattern Book to increase infill housing development?
Many central business districts and commercial corridors are under-utilized in Ohio because developers and entrepreneurs are unable to secure risk-tolerant, low-cost capital that is comfortable with weak real estate markets or untested businesses. CDFIs, a type of lender trusted by the Ohio Department of Development, lend and intensively coach businesses and real estate projects that cannot access traditional bank loans.
Would you support efforts to rebuild Ohio’s commercial corridors? Would you consider creating a statewide fund that provides grants to Community Development Financial Institutions (CDFIs), which have extensive track records of successfully reactivating commercial spaces and coaching small business owners?
Housing costs are not expected to decrease in the short term, and the demand for quality, attainably-priced homes remains high.
Do you support programs that encourage private- and nonprofit developers to produce homeownership and rental opportunities? Would you support commonsense adjustments to the Welcome Home Ohio program and the state Low Income Housing Tax Credit?
Institutional real estate investors, backed by Wall Street speculators, have been rapidly converting single family homes into rental property. Often targeting ‘starter homes’, this practice is shutting out first-time homebuyers and preventing families from creating permanent, stable homes for themselves and their children.
Do you support legislation to safeguard the American dream for Ohioans who want to own homes and rent in communities they desire? Would you be willing to put guardrails around the types of activities and portfolio sizes of institutional investors?