What's Hot: Total Wine Coming To Friendship Heights | 256-Unit Project Proposed to Replace Rosslyn Buildings Moves Forward
New Inclusionary Zoning Rules in DC Will Take Effect in June
✉️ Want to forward this article? Click here.
With demand for housing in the District at historic highs, it is no wonder that affordable housing is scarce throughout the city for both low- and moderate-income households.
Now, the city is attempting to leverage its existing system of inclusionary zoning (IZ) in hopes that the program will assist those who need it most.
Last summer, the Zoning Commission voted in favor of mandating that all new IZ rental units be affordable, at minimum, to households earning up to 60 percent of the median family income (MFI) rather than the current 80 percent threshold; the standard will still be 80 percent for for-sale units. These new rules will take effect on June 5th.
story continues below
loading...story continues above
Developers who demonstrate economic hardship in meeting the requirements on-site will still be able to secure a waiver in exchange for creating affordable housing elsewhere. The required IZ set-aside for for-sale developments can be reduced by 20 percent if the IZ units that remain are earmarked for households earning up to 60 percent median family income.
Currently, IZ allows developers zoning relief to construct denser projects than what is allowed by-right on a given site by mandating that a percentage of the housing units be set aside for households earning less than the area median income (AMI). However, developers would often set aside the required units for households earning up to 80 percent AMI — still a relatively generous salary for an area whose 2016 AMI was $108,600.
The Department of Housing and Urban Development (HUD) calculates AMI/MFI for all metropolitan areas nationwide. HUD’s median family income for the District specifically and for the DC metro area more broadly is $110,300 for fiscal year 2017.
See other articles related to: affordability, affordable housing, affordable housing dc, inclusionary zoning, zoning changes, zoning commission
This article originally published at https://dc.urbanturf.com/articles/blog/new_iz_rules_take_effect_june_5th/12512.
Most Popular... This Week • Last 30 Days • Ever
One of the critical factors in determining whether refinancing is a wise decision is ... read »
The one-of-a-kind residence was built out of two expansive classrooms, an office, two... read »
As the redevelopment of the Mazza Gallerie mall in Friendship Heights heads towards c... read »
As we head towards the end of the year, UrbanTurf is wrapping up its coverage of larg... read »
Designed by visionary Travis Price Architects, 3623 R Street NW is a light-filled mas... read »
- What Is The Best Spread To Refinance Your Mortgage?
- 13 Foot Ceilings, 5,800 Square Feet in a Historic Schoolhouse: A Rare DC Loft Hits the Market
- Total Wine Coming To Friendship Heights
- The 6 Large Developments on the Boards From Anacostia to the Bridge District
- A Rare & Striking Modern Home in the Heart of Georgetown Hits the Market
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro