Regulatory Issues And The Strongholds They Have On Housing Affordability

One delay here and there might seem like a normal part of the building process, but the long-term effects are costly. Developers are doing their best to complete building projects as quickly as possible, but many times, some factors are out of their control. A construction delay Americans have been facing is the electrical transformers.

Why are electrical transformers in high demand?

In 2018, the Trump Administration slapped tariffs on Chinese transformers, causing them to be in short supply. “As a result, the number of transformers we bring from China has fallen by nearly 90%,” said Rose Quint with the National Association of Home Builders. How long of a delay are builders and developers experiencing with electrical transformers? John Kirk, a multifamily developer based in San Antonio, said, “The wait time for a transformer has grown from three to four months to at least a year.”

Election Dialogue Continued: What the Proposed Congressional Maps Could Mean for Charlotte

While most of the country is focused on the Presidential race in 2024, North Carolina is focused on changes to their congressional maps. The proposed map would add three Republican seats, which is a significant change from the current Democrat-Republican 7-7 split. What would a Republican Congressional majority mean for Charlotte long-term?

It’s no secret Charlotte has seen a tremendous migration boom since the pandemic. Three of the four metro areas with the largest migration trend to Charlotte are Miami, New York, and Washington, D.C. Even with the change in population, Mecklenburg County has remained blue. Congresswoman Alma Adams easily won last year’s reelection with 62% of the vote. A potential right-leaning map won’t have an effect on Congresswoman Adams stronghold within her district. It’s safe to say she’s untouchable to Republicans.

The Red Line Commuter Rail Could Be The Key To Solving Housing Affordability

It’s no secret that 113 people are moving to Charlotte daily. According to Doug Ressler with Yardi Matrix, over 14,000 apartment units are coming to Charlotte this year. With a high demand for housing, Charlotte has to pivot and create new strategies to fill the demand. A great way to alleviate the rental housing demand is effective public transportation. The proposed 25-mile Red Line commuter train from Charlotte to Lake Norman could be key to tackling Charlotte’s apartment supply and housing affordability problem.

As someone who lived in Washington, D.C., without a vehicle, I based my housing options on proximity to public transportation. I factored in how long my walk was to a metro station, ticket cost, the train schedule, and, most importantly, safety. Taking a train to work every day allowed me the freedom to live further away from my workplace and earn a living wage. The main reason I didn’t have a car while living in Washington, D.C., was my budget. I strategically lived near a metro stop so I could eliminate an expense and utilize public transportation.

People who qualify for affordable housing use similar strategies when identifying housing. By building a 25-mile commuter train, lower-income residents are given more viable options. The average Charlotte renter pays $1,700.00 a month. Creating an easy commuting option opens the door for affordable housing options outside the city. If the Red Line train comes to fruition, residents will no longer be faced with the dilemma of living in a costly neighborhood with a short commute or living an hour outside the city. They will have more affordable housing options, which will help solve Charlotte’s housing affordability issue. While developers consider multi-dimensional housing options, elected officials should consider how to accommodate those housing options near transit lines.

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