CONLEY COMMENTARY (WSAU) – Finally, Wausau city leaders have taken a stand for affordable housing.
It happened last week in front of the city’s Economic Development Committee.
The city owns land near Bridge Street along 2nd Street. The city put out a request for proposals. Only one developer responded. The proposal: 50 housing units on the land, but only 10 units would be affordable housing, 28 of the units would be market rate, and 12 units would be mico-apartments – lofts. The development would also include some retail space.
The developer proposed purchasing the land from the city for $75,000 – that’s less than half the assessed value of the property.
And the Economic Development Committee rejected the proposal.
As they should have.
The city has an affordability housing crisis. And even housing that is deemed affordable is expensive for working class families. There’s almost nothing available under the affordable model that actually works – rents set at one-third of a family’s income.
So here comes a developer who suggests that they acquire the land for half of its value and only one-of-of-five of the units to be built there will be affordable. Never mind that neighbors say the housing is too dense for the narrow side streets in the area and that there’s not enough parking.
This is a one-sided sweetheart deal that doesn’t address the city’s housing needs.
What should happen? Well, there is only one developer who is interested in the land right now. The city should work with the builder and make a counter-offer. The land should be sold at market rate; that’s the deal that any buyer would get if the property was in private hands. The city’s stated goal should be that half of the housing units be affordable. For each affordable unit over half, the city should offer a land-sale discount of about $10,000.
If the developer is no longer interested, that’s fine. The city should wait until another developer comes along. This is land that’s owned by you and me… the public. It should be used for the public goal of affordable housing.
Chris Conley
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