Affordable Housing Issue Is Addressed by Council

Candace Braun

On the heels of passing the Palmer Square Housing Settlement, which will bring the Borough 10 more affordable housing units, a discussion ensued at Borough Council's meeting on Tuesday, February 10 that led to several concerns regarding how to provide more affordable housing for Princeton residents.

Currently, out of a total of 9,700 households in Princeton Borough, there are 633 households living in housing units that were built by the municipality with low monthly rental costs, reported Mayor Joseph O'Neill in his report on affordable housing.

The concern for the Borough is finding enough units to meet the needs of those living in Princeton, particularly those who currently live in overcrowded units. The Borough has $500,000 in its trust for affordable housing, which, according to Mayor O'Neill, isn't enough to go around.

Mayor O'Neill cited in his report that one of the primary reasons insufficient affordable housing exists in Princeton is because housing prices rose faster than the rate of inflation during the 1990s.

The taxable value of land and improvements in the Borough has more than doubled, as the value reached $1 billion in 2002, as compared to $430 million in 1993, read the report.

Both lack of housing and lack of money in the Borough has made it so that there is not enough affordable housing to satisfy the Borough's needs, said Mayor O'Neill.

"Princeton Borough's Housing Authority ... has a waiting list for family housing that, with current turnover rates, would take 15 years to satisfy," the report said. Currently, an average of one family unit becomes available per year in the Borough.

Other members of Council were concerned about the amount of space the Borough has to build more units, and how adding more affordable units will draw more people into the schools and town.

"As much as I would like more affordable housing ... at some point we're going to have to draw the line because it drains us in so many ways," said Mildred Trotman, Council president.

Councilman Roger Martindell relayed a story of how a family of long-time residents were driven out of town because they were unable to keep up with their house payments. He suggested the Borough should step in when situations such as this arise, and offer to help these families make their house payments, with the understanding that once the family is ready to sell, the Borough would be able to pay off the rest of the house and keep it for affordable housing purposes.

Councilwoman Wendy Benchley argued that most families would be afraid that the Borough would repossess their house, and wouldn't agree to the deal. She said it would be more productive to encourage the community to donate money for the cause, as many residents enjoy the amount of diversity that Princeton has to offer.

Getting Princeton University involved in the research process of affordable housing was suggested by Councilman David Goldfarb. He said the University has more resources to investigate the issue than the Borough has.

"The University needs to take a more active role in trying to figure out what kind of town we want in 50 years and how we can get there," said Mr. Goldfarb.