Attractive Incentives For Housing Development
Progressive Evolution Demands Housing
With ambitious leadership and a strong partnership between the City, Pittsburg State University, and local businesses, Pittsburg is driving the greatest investment in economic development the City has ever seen. With this evolution comes a very basic and important need – homes.
In the past four years, Pittsburg has experienced:
- 1,000 new jobs
- 10% average wage increase
- Over $300 million dollars of infrastructure investment
Poised for ongoing growth, this progressive evolution is changing the outlook of southeast Kansas. City manager, Daron Hall states, “This growth will continue. We have 500-600 new jobs planned within the next 24 months.”
This kind of change and growth in Pittsburg supports professionals with good-paying career opportunities and creates demand for a variety of housing types. The City has incentives for all housing categories, with a particular emphasis toward the development of neighborhoods of high-quality single-family homes priced in the mid $100,000’s.
The City of Pittsburg, along with its Housing Department, are motivated and actively seeking partners in residential housing development. They are ready to go above and beyond to minimize risk to the right partner and may:
- Provide land at little or no cost, including access to the Land Bank
- Donate engineering and other resources
- Fast-track the removal of bureaucratic obstacles
- Coordinate federal and state incentive programs
- Customize incentives to the specific needs of development partners
- Facilitate relationships with local property owners and real estate agents
- Consider ideas for new construction methodology and approaches
- Partner in consumer marketing to drive lot sales
This initiative is further supported by the Imagine Pittsburg 2030 strategic plan, which has established housing as one of four focus areas.
High Demand? Here’s Why.
In addition to the aggressive investment in economic development, which will continue to drive increased demand for housing, a recent survey shows that Pittsburg is already feeling the impact of the shortage of affordable quality homes.
- Two-thirds of Pittsburg’s workforce live outside of Pittsburg and commute to the city each day
- 53% of respondents said that the reason they don’t live in Pittsburg is because of housing issues
- 75% of the Pittsburg workforce who earn over $90,000 annually, live outside of the city
A housing study conducted by Novogradac & Company in 2014 reported, “a lack of moderately priced homes in the area, where residents are either forced to wait a year for a home to be built, or they have to reside outside of Pittsburg to find quality moderately priced housing.” The study provided ten recommendations which include expanding the supply of moderate income housing and establishing neighborhood associations and planned subdivisions.
A shortage of moderately priced homes combined with the largest investment in economic development the city has ever seen creates a significant opportunity for a variety of housing developments. The City is being aggressive and wants to talk to prospective developers.
RHID Eligibility Reduces Risk To Developers
Pittsburg has a qualified Rural Housing Incentive District (RHID) which will capture 100% of the incremental increase in real property taxes and reimburse those funds to the developer over a 15 year period. RHID reimbursement will offset certain land acquisition costs and multiple infrastructure costs.
A Holistic Approach To Housing
The City is undertaking a holistic approach to the housing landscape in Pittsburg. Current efforts include:
- Revitalizing of property in established neighborhoods with an active Land Bank
- Engaging a developer to build attractive retirement homes
- Supporting the building of high-end homes
- Seeking partners to develop city-owned property for new neighborhoods of mid-priced homes
This approach ensures improvement across the city, which has resulted in the largest increase in property values in a decade. All of this adds up to the need for additional housing now and in the future.
Land Ready For Development
With over 400 acres of land ready for development, the City is ready for the next phase, which includes mid-priced housing development. The City of Pittsburg is motivated and willing to provide attractive incentives to the right development partner to drive mutual success in every project.
When development is complete, the City will partner in consumer marketing to foster a short sales cycle for completed lots, aided in part by a strong relationship with Pittsburg State University – a built-in market for lot sales to professors and graduates employed by the growing industry in the area.
Director of Community Development & Housing
201 W. 4th St.
Pittsburg, KS 66762
Phone: (620) 230-5550
Fax: (620) 232-3453