AS THE troubles of Fannie Mae and Freddie Mac make headlines, Americans are looking at their housing investments with even more concern. Property values across the nation continue to plunge, but in Charlottesville, nonetheless, a falling demand still outweighs the supply of available housing, particularly for low-income buyers. The city’s housing prices are lower than those of other college towns, such as the ones home to the Universities of Michigan, Wisconsin and Colorado, but city leaders have made the issue a high priority. Rather than relying on the traditional method of pouring public money into the problem, creating innovative business solutions would do more to improve the situation.
Some cite the University as a problem source for not providing enough on-Grounds housing for its students. More students living on Grounds would free up housing for low-income families, but the problem is not the lack of on-Grounds housing but rather getting students to live in it. Assistant Vice President of Business Operations, Richard Kovatch, pointed out that the University “can currently meet all of the demand” and “encourages students to live on Grounds.” Building more on-Grounds housing would not be practical for the University, as it would most likely be in an unattractive location and many students prefer the freedom of the private housing market. However, the institution could provide more incentives for students to live on Grounds (such as expanding the language house program or giving better dining options to students) or convert these areas to residential communities for its employees. Graduate student Logan Pugh, part of a team of students at the Batten School that reported on local housing problems, noted that employer-assisted housing programs have been used at other schools like the University of Chicago. By implementing policies like these, the school could create a better University community, decrease the need for transportation, and afford to pay its employees less because it would provide them with housing.
The joint task force between Charlottesville, Albemarle County and the University (assembled to propose possible solutions) has not yet finalized its recommendations, but one of its Draft Report conclusions calls for, among other things, “financial support from UVa.” Although the University contributes a steady flow of people and jobs, it cannot be responsible for providing low-cost housing to Charlottesville’s working poor. Economics Professor Edgar Olsen believes that the school “has no important role in solving local housing problems except providing local political leaders and citizens with good information about local housing policies.” The University can, however, “apply its assets as an institution of knowledge to the community,” as Charlottesville Mayor Dave Norris puts it. One example of this is the design studio being taught by Professor Betsy Roettger, which aims “to study and design high density, affordable, sustainable housing,” according to Roettger. The project is “prioritizing higher quality — more dense housing,” meaning that square footage will be sacrificed for better building materials and more environmentally friendly designs. In the long run, higher density housing units would be more economical for us all.
Public efforts are certainly helping the working poor in Charlottesville, but they pale in comparison to the amount of aid needed to address the problem adequately. This is demonstrated by the long waiting lists for the Section 8 Housing Choice Voucher Program, which gives credits to those unable to pay their rents. In addition, Norris points out that “lots of money and time have been spent preserving affordable housing” and compares the way the city is struggling to maintain the amount of low-cost housing to “treading water.” Rather than diverting more of a tightening budget to the housing situation, the city should use its available funds (which are admittedly slim) to jump-start new initiatives from the private sector. Pugh suggests that the city “can simply alter the economic incentives a bit ... so that it makes good business sense to build affordable units alongside more expensive units.” Some progress has already been made in this area; Norris mentions that the city has provided “density bonuses (allowing more units to be built in a given area) in exchange for making some of those extra units affordable” and has “streamlined the approval process, which is more appealing to many developers because of the length of time usually required for an approval.” Some worry that this will negatively affect property values, but developers could provide more private designs and lower prices — made possible by decreased construction costs — to compensate.
The University and the talent associated with it are major causes of the high demand for housing in Charlottesville. Instead of looking at these factors negatively, however, we should harness that intelligence and creativity in order to form more practical remedies to the problem.
Mitch Ross is a Cavalier Daily Viewpoint Writer.
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