Development year in review: COVID-19 stalls affordability efforts during booming market - News Summed Up

Development year in review: COVID-19 stalls affordability efforts during booming market


Affordable housing emergency resolution to spur further action With a 5-2 vote, the Flagstaff City Council declared an affordable housing emergency in Flag…A majority on Council chose to exempt affordable housing projects from certain new regulations on high occupancy developments. And Council voted to pass an affordable housing emergency resolution that mandated the development of a new and cohesive plan to address the problem. By June of this year alone, 15 homes in the Flagstaff metro area were sold for over a million dollars. From July 1 through September 30, there were 484 single family homes sold with the median price for those homes at $519,770. New regulationsThis year saw the passage of several new regulations designed to give the city more control over student-focused housing developments.


Source: Daily Sun December 23, 2020 13:30 UTC



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