Create a Win-Win IZ Plan
Inclusionary zoning is not a magic wand we can wave to build affordable housing.
Done right, it can help us get more housing built and increase our stock of semi-affordable housing.
Done wrong, it can make our housing shortage even worse and drive the cost of housing even higher.
We must create a win-win inclusionary zoning plan, where developers are asked to build a certain percentage of affordable units. In exchange, developers can build taller, get projects approved quicker, or face reduced development charges.
Under this system, everybody wins — the city gets desperately needed housing stock, development projects remain profitable, and our supply of semi-affordable units will grow across the city.
In addition to mandatory inclusionary zoning in major transit areas, we should consider a voluntary inclusionary zoning system city wide. Work with developers to incentivize them to build affordable homes in exchange for offsets — this could help us add significantly more affordable units and market-rate units by creating a win-win system for builders and for the city.