Housing plays an important role in the lives of individuals, the fiscal health of local governments, and the economic vitality of states. That's why Blue Sky Consulting Group's expertise and experience in this practice area is a essential resource for our clients.
California Affordable Housing Cost Study
In 2014, the Blue Sky Consulting Group completed an affordable housing cost study for the state of California’s housing agencies (The California Department of Housing and Community Development, the California Tax Credit Allocation Committee, the California Housing Finance Agency, and the California Debt Limit Allocation Committee). The study measured the factors that influence the cost of building affordable rental housing in California, analyzing data from hundreds of multi-family projects. The study utilized a regression analysis model to identify factors that are correlated with raising or lowering the costs of developing affordable housing in California. The analysis evaluated how factors such as parking requirements, economies of scale, community opposition, local design-review requirements, developer characteristics, and many others influenced the cost of developing affordable housing. In addition to the empirical analysis of multi-family housing development costs in California, this study also examined the social and economic impact of affordable housing to better understand the indirect benefits from the investment in subsidized affordable housing.
The Economic Impact of Yokohl Ranch
In 2010, the Yokohl Ranch Company, LLC hired Blue Sky to analyze the economic impact of a proposed large-scale residential housing development in Tulare County. Given the county's emphasis on sustaining a balanced resident-to-employment ratio, the client needed our help in identifying and articulating the likely economic effects of this proposed development in the context of the county's projected rapid future growth.
In 2007, Blue Sky Consulting Group was chosen by the California Building Industry Foundation to analyze the fiscal impact of residential housing in California. Specifically, we addressed the question of whether new residential housing "pays its own way" at the state and local levels. We conducted the first of its kind analysis of every local jurisdiction in the state to determine whether revenues generated by new housing were sufficient to cover the costs of increased service demands from new residents.