Issue 9.43

November 3, 2023

EP. 14 | B.A.N.A.N.A. - TACKLING HOUSING DIVERSITY

FEATURING PRESTON SCHELL & LOGAN HERRING

In Delaware, the phrase "Build Absolutely Nothing Anywhere Near Anything" has become all too familiar in the housing industry. The demand for various types of housing—affordable, workforce, senior, and seasonal—is great to support the needs of Delawareans. Sitting down at the table are Preston Schell of Ocean Atlantic Companies and Logan Herring of the WRK Group, who will explore the triumphs and shortcomings of housing in Delaware, and what’s next on the horizon.

Listen to the episode on your favorite streaming platform >

Listen on YouTube >

DELAWARE VOICES & DATA

2025-2030 HOUSING NEEDS ASSESSMENT REPORT

UNDERSCORES A NEED FOR ACTION

By Eugene Young | DE State Housing Authority

Delaware is facing a housing crisis. I’m sure you have noticed it. It affects us all in one way or another. I’m confident you’ve heard from friends, families, and colleagues about the various housing challenges in Delaware.

Anecdotally, the Delaware State Housing Authority (DSHA) hears more and more about the experiences of our residents. Some can’t find an affordable unit, others are being priced out of neighborhoods for homeownership, and many struggle to maintain their current housing. Our team has also recently become privy to the massive migration of people to Delaware from other states. Read more >

By 2030, the state is projected to reach approximately 416,400 households—nearly 25,000 more than in 2020. By 2035, households are projected to total 422,400. To keep up with household growth through 2030, the state will need to add 24,400 new units, or an average of 2,400 units per year. In addition, the projections do not include units for seasonal and vacation use. To accommodate seasonal demand, nearly 5,900 additional units are needed, for a total of 30,230 new units. The vast majority of recreational units are needed in Sussex County. Download the report >

Housing Diversity Impacts Us All

EMBRACE VARIETY

Currently, Delaware has an 18,000-20,000-housing unit shortage while the United States faces a 3-7 million deficiency, depending on what source

you read. The issue is compounded by continued growth in the U.S. population while also more and more people

are falling in love with, and moving to,

the charming First State. To address the pressing issue of the housing shortage,

it is crucial to consider and take action

to influence both the supply side and demand side of the equation.

WE ARE ALL CONNECTED TO

THE HOUSING CRISIS

Costal businesses come in all different shapes, sizes, and needs. However,

one common thread binds them: affordable, seasonal housing. And although many may think of the

seasonal housing issue and its impact

on their favorite ice cream shoppe, lifeguard, restaurant, or summer

sundries store, the scope is much more comprehensive. It includes medical

staff, first responders, grocery stores, maintenance, cleaners, landscapers,

the list goes on. Read more >

Our country is in a severe housing crisis, compounded by a lack of supply, high interest rates, shortage of construction labor, increase in material costs, and restrictive zoning, to name a few. This crisis doesn’t just affect those experiencing homelessness or struggling to get out of poverty. Low to moderate-income workers, skilled laborers, college graduates, police officers, teachers, and others are impacted by housing costs that are too high. Across the housing continuum there are simply not enough units. In functional housing markets, there would be ample housing at all levels. Read more >

PRESIDENT'S MESSAGE

The State Chamber has survived 187 years because we continuously react and adapt to the changing landscape around us and the ever-evolving needs of the business community. However, our physical space never really changed. It's now time for our workspace to be modernized so that it better suits the needs of our employees and our members. Read more >