During a recent government meeting, council members engaged in a detailed discussion regarding the development of affordable housing in the area. The conversation centered on defining \"affordable\" within the context of local real estate, particularly in relation to the area's median income, which is approximately $70,000.
One council member raised concerns about the affordability of proposed townhomes, questioning how these would be priced given that local home values can reach upwards of $800,000. The response clarified that the affordability of new units would be based on area median income, with potential prices for two-bedroom townhomes estimated between $300,000 and $400,000.
A significant point made during the discussion was the implementation of deed restrictions on these properties. These restrictions would prevent owners from selling the homes at market value, ensuring that they remain affordable for future buyers. The properties would be available only to residents of Plainfield, with specific income and down payment criteria to qualify for purchase.
The council emphasized that notifications would be sent to property owners within a 200-foot radius as part of the planning process, although no notifications had yet been issued since the study of the area was still in its early stages. The discussion also highlighted the importance of maintaining uniformity in affordable housing standards across different wards in Plainfield, ensuring equitable access for all residents.
As the meeting concluded, council members expressed a commitment to transparency and clarity in the development process, aiming to keep constituents informed about the evolving plans for affordable housing in the community.