At the same meeting the City Council also approved Boulder Housing Partners’ draft Strategy Plan. BHP is the City’s housing authority. BHP asserts the City has “an acute and chronic housing affordability problem.” The Executive Director cited a number of statistics to support that assertion: In the last 12 years, Boulder has lost 5,650 affordable rental units to market inflation; Through its affordable housing programming, Boulder creates only 81 units each year between for sale and for rent. This is a net loss of 400 rental units each year; Today, the market offers 7,700 units and the City’s affordable program has just less than 2100.
Given the situation BHP anticipates “that there’s a window of time in which to preserve affordability,” and therefore proposes to “implement eight strategic initiatives to help Boulder respond to the affordable housing needs in the community…” Perhaps it goes without saying but BHP believes “there is a disconnect between the stated vision for Boulder in the BVCP (Boulder Valley Comprehensive Plan) and the direction the market is taking this community.”
BHP’s initiatives include increasing its inventory of housing by 2,000 units over 10 years to help the broader goals of 10 percent affordability and a diverse community. BHP currently produces an average of 50 rental units/year; expanding efforts to include workforce housing opportunities; its geographic focus in two ways, partnering on affordable housing projects that have regional significance and considering income producing assets anywhere in Boulder County.