2. MetroCOG workforce housing study

buying opportunities need to be marketed to employees. In rental housing, more tenant education is needed. ~ OLDER NEIGHBORHOODS There is concern about flight from deteriorating neighborhoods but also about gentrification. There is a lack of resources to invest in existing homes, especially for the $1 0-12/hour wage earner. As a result there is a concern that investors are buying owner- occupied homes and turning them into rental units. Investors expressed a concern that selling to workforce housing market has too many hassles, especially with FHA inspection requirements. ~ SENIOR HOUSING Senior housing options are needed, as Fargo- Moorhead becomes a regional medical facility attracting people over 70. It is important to have housing options for seniors who wish to move from their single-family homes that can then be freed up for younger households seeking to buy homes. A need is identified for new housing to have Universal Design Standards so that new housing can be marketed to disabled and non-disabled people without have to make special changes. ~ RENTAL HOUSING There is too much on the market now. Rents are too high for the market. Students are competing with the workforce for rental housing. There is a loss oflow-cost housing (under $400 per month) in favor of condo conversions or student housing that can get $1,200- 1,500/month in rent. Occupancy restrictions prevent new Americans (who typically have larger families) from finding suitable apartments. 20 Linda S. Donnelly. A.l.e.I'. ;\ ugus1 2(1(16