States require local governments that have zoning authority to create comprehensive plans. While most comp plans establish laudable policies, they are often poorly implemented and can stand in the way of small-scale, incremental development. This tool outlines a Lean process that planning staff can use to reduce the expense of policy development and increase the likelihood that it will be implemented. For comp plans, Lean Urbanism is not only concerned with leveling the playing field for small-scale actors, but also with directing investments toward areas of greatest impact.
Financing Lean Development requires both institutional and non-institutional sources of capital. This paper focuses on project equity from non-institutional sources. Years of observations and anecdotal conversations with developers of small, innovative projects suggest that Lean Development is coming of age, but it has significant hurdles to realizing its potential, and financing is among the more difficult to overcome. Understanding the motivations, requirements and techniques for working with non-institutional investors is critical to overcoming one of the primary hurdles for Lean Development.
Writing a new zoning code is time-consuming, politically fraught with landmines, and therefore unlikely to happen in most places. But with a limited number of strategic adjustments, many zoning codes can be repaired to allow Lean Urbanism and improve or create walkable, livable environments.
Housing can create wealth for existing and new residents. It can also create opportunities for growing, improving, or preserving a neighborhood. House hacking is a powerful tool for Lean Urbanism. It helps overcome the barriers to entry, and accomplishes individual and community goals.
We created this House Hacking Catalog to show how it’s possible and to provide inspiration, information, and ideas to make it happen. It contains descriptions of the types of buildings, rentals, and construction that make good options for house hacking, plus issues to consider including financing and finding the right property, as well as additional resources.
New developers should create their own financial models. Only by doing so will they truly understand the variables and how each affects financial performance. This paper attempts to walk new developers through a financial model that includes development budget, annual return, and capital return. It is simple enough to create but sophisticated enough to present to investors and lenders. It represents one small residential rental building — not condo, and not office or retail.
The Pink Zone is a powerful tool for concentrating resources on the task of enabling small-scale, community-centered development and revitalization. It defines an area of focus, leverages a suite of available tools, and provides a platform for the community to gather resources, make commitments, and work together on projects that enhance community character and allow existing businesses and residents to remain and profit from the improved quality of life. The Pink Zone tool will be developed and refined in a series of pilot projects, and then released to the public.