Blog written by Cathy O’Connor, Coalign Group
Most communities across the U.S. are facing a housing shortage and Edmond is no exception. Getting ahead of a significant housing shortage, before it becomes a crisis, can make a difference over the next decade in supporting workforce and economic development.
My advice to Edmond developers and policymakers? Don’t be afraid of multi family development.
Done well, multifamily housing is a critical component in creating needed density for thriving mixed-use areas featuring a concentration of retail, restaurants, entertainment and business. Housing density leads to more walkable areas and the higher pedestrian traffic desired by retailers and restaurants.
Additionally, housing and the resulting property and income taxes are what support the school district. New housing developments help to keep the tax base healthy and the schools from seeing enrollment decline. Neighborhoods and schools all across Edmond would benefit from new residential development and development that includes all different levels of income.
Mixed income housing allows for an important type of diversity that protects against future infrastructure challenges. A wide variety of housing costs, including workforce and attainable housing, ensures that those who work in retail and restaurants are able to live within the city, cuts traffic congestion and creates more dynamic residential spaces.
As cities prosper and grow, it requires new approaches and a close collaboration between developers and the city. Edmond is an attractive city for new housing developments that will support the mix of business and access to shopping and lifestyle amenities that residents and future residents desire.
Cathy O’Connor is the founder of Coalign Group, a consultancy group that helps developers and municipalities facilitate and accelerate development projects.