Ordinance No. 19777 - Laserfiche WebLink

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small percentage of the total housing stock, its effects reverberate throughout the Iocal housing market; "The impact of the net addition to the housing stock is greater than this small percentage would suggest. This additional percentage of new units provides the safety valve that prevents demand pressures from either raising the price of the existing units or lower the quality of portions of the stock." Gruen, In the Land Use Game. , ,Who Gets the Monopoly on the Good Life?", Iv Management and Control of Growth ~ULI 1978}, p. 317. Unfortunately, the kind of new construction that is currently occurring in central Lane County does not include the kind of low-income housing for the elderly that is necessary to free up and preserve a key segment of the existing housing market. That segment is the large quantity of lower-cost single-family homes occupied by the elderly and late-middle- aged. A recent study highlights the importance of turnover in maintaining the condition and quality of existing housing stock. In ~rnover and Filtering of Postwar Single~Family Homes, author Dowell Myers writes that "T'he large stack of small, lower-cast, single-family houses built in the 194D's and 195D's is an important resource for affordable homeownership." He observes that "'This stack of postwar housing constitutes nearly one- third of all owner-occupied, single-family houses today and remains a great resource of affordable housing." Dowell states that '"I'he research reported in this article...has identified postwar houses as one large vintage done-third of the total stock of single-family houses} remaining sheltered from forces of gentrification and providing affordable opportunities for homeownership." 'Tlowever," he finds that "those houses remain relatively unavailable to the market because aflong-term occupancy." Dowell concludes that, 'fin spite of the absence of gentrification, turnover in the postwar stock brings the benefit of increased maintenance and repairs as well. That benefit of turnover in postwar homes needs to be recognized when making housing policy and developing neighborhood or areawide land use plans." The Mid-Springfield Refinement Plan notes that most of the area consists of homes built shortly after 'World War II. Both post-war and prewar homes occupy the large residential area just to the west of the site. These homes have a high level of occupancy by seniors and a relatively law turnover rate. The neighborhoods are generally well-kept but there is a significant amount of deferred maintenance. Currently, the City of Springfield operates a housing rehabilitation loan program. Eugene has a similar program. However, such programs meet only a small percentage of the need for regular maintenance and rehabilitation in these and other older neighborhoods throughout the Metro Area. Many people living in these alder Names are at or approaching retirement, and are facing significant drops in income. They are financially unable to move up or out of their existing hornes, and they are also financially and often physically unable to maintain those homes. Roughly 16,DD~ elderly persons 65 years or older live within 1D miles of the Springwood Springwood Plan Amendment Application Applicant's Proposed Findings March 24,1991 Drab Page 14