Hollow victories

This is not an "affordable housing" plan.  It is a scheme to allow developers to build nice things for rich people all up and down the riverfront and excuse that decision with a worthless token.

The council voted 6-0, with Councilman Jason Williams absent, to direct the commission to review amendments to the zoning ordinance that would require developments along the riverfront in Marigny and Bywater to include at least 10 percent affordable housing units in order to qualify for additional density and height limits, up to a maximum of six stories or 75 feet.

The affordable units would be reserved for households with incomes equal to or below 80 percent of the area median income; at least half must contain two or more bedrooms.

The story says this development was "counted as a victory by affordable housing proponents."  If that is true, then these "proponents" have a very low bar for what counts as a victory.  Just to give you a sense of what this says, here is a quick calculation based on what I think are the correct numbers.

Median income for the city of New Orleans is estimated at $38,721. But this says Area Median Income which, in Census terms refers to the New Orleans-Metarie-Kenner region for which the median income is $50,528. So the "affordable" set aside here is priced for households earning $40,422.  An "affordable" unit should not cost more than 30 percent of that which means, again, if I'm doing the HUD math correctly, that this action by City Councils should "affordable" housing units that cost about $1000 a month to live in. 

Remember also this requirement applies to 10 percent of the units in each of these now permitted high rise developments. So what we've done is give a green light to luxury condos throughout Bywater in exchange for pretty much nothing.  But councilmembers will now claim they achieved an affordable housing "victory."  Why would anyone let them do that?