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Advocacy Updates – February 2024

SPAAR - 02/22/2024

East Metro News

  • Saint Paul has dedicated nearly $32 million in tax subsidies for affordable housing at The Heights development.
  • Ramsey County is bringing more than 560 affordable senior housing units across four buildings (subscription ).
  • Ramsey County is searching for developers, nonprofits, and local governments to apply for funding for new or existing housing projects to increase affordability.
  • The Lake Elmo Planning Commission voted against a new school site and will search in other parts of the district (subscription).

 

South Metro News

  • Eagan will see a new development at the former Thomson Reuters' site in the City (subscription).
  • Northfield residents have banded together to rehabilitate a once-dilapidated home for a family of five.
  • Washington County has approved over $14.2 million dedicated to a new county service center based in Woodbury.

 

North Metro News

  • Washington County and Stillwater have plans to build an emergency housing shelter near the Stillwater Government Center.
  • Sherburne County has received a major investment toward a large-scale road construction project in Zimmerman.

 

West Metro News

 

Minnesota News

  • SPAAR's President, Amy Peterson, was joined by the presidents of the Minneapolis Area Realtors® and Minnesota Realtors® to give the 2023 Minnesota Housing Market Recap.
  • In the Twin Cities, finding an entry-level home for $300,000 or less could lead your clients anywhere from an inner-ring suburb to an exurb in the search.
  • The average monthly cost of buying a home in the Twin Cities has increased to $2,680, a $900 increase.
  • 2023 Twin Cities home sales were down 18%, the lowest the region has seen in 20 years.
  • In Minnesota , legislative changes to the way many cities regulate multi-family housing, especially for housing dubbed “the missing middle,” passed its first committee on its first try.
  • Throughout Minnesotaaccessory dwelling units (ADUs) are increasingly allowed but infrequently built (subscription).
  • A recently introduced bill would eliminate parking minimums throughout Minnesota . The Minnesota Legislature continues to see housing as a major priority in 2024 after a landmark year in 2023.
  • Minnesota legislators are proposing a constitutional amendment that would raise the state sales tax by three-eights of a percent to fund housing programs.

 

Nationwide News

  • The National Association of Realtors® (NAR)  Chief Economist, Lawrence Yun, weighed in on what could increase homebuying activity nationwide.
  • NAR recently discussed the economic trends and 2024 advocacy.
  • Nationally, the number of renter households that spend more than 30% of their income on rent and utilities has risen to 22.4 million.
  • In the USlack of housing affordability continues to be at the forefront of many consumers' minds.

Advocacy Updates go out monthly via the SPAAR Advocacy Report. If you're not receiving the advocacy report and would like to, email spaar@spaar.com.

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