Hendersonville High School hosted an affordable housing summit Thursday evening, an issue that the city has been hit especially hard by.
The event was also focused on finding solutions to this issue that has a big impact on Henderson County and other counties right across western North Carolina.
“It will be bad if we don’t do something,” said the event’s keynote speaker and UCLA researcher Shane Phillips, adding that the impacts are everywhere. “I think it’s just so widespread, buyers or renters, everyone’s affected.”
Phillips explained that whether you rent or own your home, the housing crisis in the U.S. is getting worse.
Hendersonville Community Development Director Lew Holloway said his city, however, faces different challenges than others in the state.
“Those housing pressures that are facing the mountains overall are facing us in unique ways,” Holloway explained.
Hendersonville’s poverty rate is sitting at 16.6%. That’s more than 5% above the national average of 11.5%, according to the 2023 U.S. Census.
Since obtaining ownership is often only more out of reach for many, Phillips started researching rental pensions. “Is it possible to structure a loan product, just an ownership where ultimately a lot of the value that is being paid off by the tenants is going back to the tenants over time so there’s not such a gap between ownership and renting.”
Another alternative suggested by Phillips was making more middle housing. “To allow four-plexes, six-plexes, small condo buildings, small multi-family buildings.”
This would come with the bonus of boosting business for local contractors. “It’s more affordable than detached homes and cheaper to build than large apartment buildings,” Phillips added.
Phillips even suggested what he called sharing the burden of growth. “If we spread that around, not only is everyone contributing but land prices are not going to climb as high and so the cost of development can come down and the price, that savings can be passed on to the consumers.”
Organizers said the event was the first of its kind in Hendersonville with some attendees getting a chance to submit questions earlier this week.
STORY & PHOTO COURTESY OF ABC 13 WLOSHendersonville summit tackles affordable housing, explores new solutions (wlos.com)
