WILMINGTON — A study of the housing issues in the area is the first step for the city and county.
At Thursday’s Wilmington City Council meeting, Clinton County Economic Development Director Jennifer Klus Ekey and Clinton County Port Authority Executive Director Dan Evers presented council with the overview of a county housing study.
While the two mostly focused on the findings for Wilmington at the meeting, they advised they the study covers the entire county.
“The Danter (Company) wrote the county into three broad geographical areas using essentially the 20-minute drive time to identify the areas broadly — the Wilmington/Blanchester/Sabina-New Vienna areas,” said Evers.
The Wilmington area also includes incorporated communities west, southwest, and “a little bit east” of the city.
“There’s a projected demand of about 64 homes, per annum. A demand for approximately 25 homes in the $225,000 to $275,000 range,” said Evers. “Capacity for new rental units is estimated at 206 units at a rate of $875 to $1,400 a month. There’s an annual demand for condominiums of about 34 units per year within the Wilmington study area.”
The study suggested they should wait a few years before they start developing any condominiums.
“This is in part to allow what they call a ‘housing continuum’ to development, in which new rental market folks move into those units, then you have move-ups who start in a rental property then a starter home to a secondary home, then a condo,” said Evers.
The report also assessed tax credits for a rental home and what’s available for locals.
“We think its important to point out this looks at development trends in the community … peer-to-peer analysis was done with other cities, counties, and jurisdictions of similar size and demographic to ascertain absorption rates, and how quickly can these units fill,” said Evers.
He told council that the study is only the first step; no housing projects would be started in the immediate future.
“We think this is a positive first step, and an important one,” he said.
