Affordable Housing near Transit and Job Centers: Create more affordable housing near transit and job centers
Housing near transit and job centers not only aids in reducing Minneapolis’ greenhouse gas emissions, it can also help reduce overall living expenses by lowering transportation costs, primarily those of automobile ownership. The Center for Neighborhood Technology estimates the annual cost of owning an automobile to be approximately $8,000. Households that can reduce their number of automobiles can save that money or use it for other living costs.
The City will seek to accomplish the following action steps to create more affordable housing near transit and job centers
- Maximize opportunities to create affordable housing near transit stations and along high-frequency transit corridors.
- Identify and pursue opportunities to acquire and assemble property for larger-scale development vacant and for-sale properties for affordable housing near transit stations and along transit corridors.
- Improve coordination within the City enterprise and with outside jurisdictions to identify opportunities to increase housing density and affordability along transit corridors and near job centers.
- Promote a diversity of housing options throughout the city, especially in places near job employment opportunities, commercial goods and services, and educational institutions.