Since 2015, the City of St. Louis Park’s inclusionary housing policy has required developers to include affordable housing units in multi-unit, market-rate residential developments that receive financial help from the city and require land use approvals or amendments to the comprehensive plan. The intent of the policy is to create affordable units in market-rate developments where it would not otherwise occur.
The policy stems from St. Louis Park’s commitment to not only create, preserve and improve the city’s single-family housing stock and to put a high priority on home ownership, but also to promote quality multi-family development and affordable housing options for moderate- and lower-income households.
The policy applies to developments with ten or more units and allows income and affordability requirements to be fulfilled through onsite development of units within the proposed market rate ownership or rental residential development; or development of income- and rent-restricted rental units at another site approved by the city.
“Affordable housing in St. Louis Park means your average St. Louis Park family can afford to live in some of the new high-end developments in the city,” said Mayor Jake Spano. “We want to make sure all sorts of folks have opportunities to enjoy living in St. Louis Park.”
Since the policy was implemented in 2015, 59 new affordable housing units have been built.
For more information contact Michele Schnitker, CD Deputy Dir./Housing Supervisor, mschnitker@stlouispark.org.
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