New Orleans’ weak housing market has made the city’s downtown affordable housing mandate too costly for developers, according to recommendations adopted by the City Planning Commission on Tuesday.
The city should replace the requirement for housing developers to offer a set number of downtown units at below-market rates with a voluntary policy, the commission said. The proposal is a major rollback of one piece of New Orleans’ housing plan as the city confronts a shortage of affordable units.
To become law, the recommendations, which were drafted by city-hired HR&A Advisors, must now be approved by the New Orleans City Council…