COMMENTARY: City’s Affordable Housing 'Song & Dance' Just A 'Bait & Switch'?
Rents for recent developments — Governors on North Henry, Current Midtown, High Street View and others — unaffordable for Williamsburg's 'typical' family
At a recent City Council meeting, Williamsburg Mayor Doug Pons reminisced about growing up in the City, and touted the possibility of more families living downtown again. His statements followed a presentation from City staff recommending significantly more mixed-use, high-density developments on 5 downtown city streets. But a review of rents at recent City-approved redevelopment projects reveals that affordability hasn’t been a high priority.
The CEO and President of Colonial Williamsburg, Cliff Fleet, recently echoed the Mayor’s sentiments about the need to build affordable housing. While speaking to a neighborhood group, Fleet lamented the struggles his workforce has finding affordable housing locally. The implication was that the City needs to relax zoning and allow more high-density development, so the Foundation can deal with the lack of affordable housing by developing the land it owns.
But the results of recent projects tell a different story. When given the opportunity to build, neither the Foundation nor the City have attempted to seriously address the need for affordable housing. And while there’s a persistent conception that the Foundation is suffering financially, Fleet thinks otherwise, remarking to his neighborhood audience that CW’s financial performance in 2024 could turn out to be the best ever.
Rent analysis
The following analysis uses data from the US Census and Apartments.com, as well as a rent affordability calculator provided on the website. As a general rule of thumb, it’s not recommended to spend more than 30% of your income on housing. That’s the standard applied for “affordability” in this commentary, though there are certainly others.
Typical folks left out
According to census data, the City’s per capita income is $35,732, or about $17/hour. A typical family in Williamsburg earns $70,206 annually and consists of 2.16 people. Compare those numbers to the cost of living at recently developed properties in town in the table below.
Include more affordable housing or don’t build
The city is going to get more high-density development and likely needs it. But the figures in the table show why future approval of high-density development must come with far more strings attached to affordable housing. This is the only way to ensure our City is a home for everyone. Where there’s a will, there’s a way. But is there actually the will?
Comparable High-Density Developments
Though more developments around town could be considered in a more comprehensive rent review, the following were selected due to their relatively prime locations. These five developments average $1,690 for a 1 bedroom unit and $2,157 for 2 bedroom units. Apartments on one of the 5 downtown streets targeted for redevelopment (Scotland, Prince George, N. Boundary, N. Henry, Francis) would probably be just as desirable, if not more, and fetch similarly high rents.
Governors on North Henry
500 N Henry St, Williamsburg, VA 23185
Built: 2024
# of units: 162
Bedrooms: 1 - 2 bd
Bathrooms: 1 - 2 ba
Square Feet: 713 - 1,205 sq ft
Workforce housing didn’t seem to be a priority last year when CW redeveloped the former site of Governor’s Inn on North Henry St. The Daily Press reported that only 13% of 162 units (twenty one total) were set aside for lower-income families —specifically those making less than 80% of the City’s median family income. But as former Council Member Caleb Rogers pointed out at the time, even the reduced rents were “not below the median rent” in the City. According to Rogers, the developers determined the project’s economics “wouldn’t allow” them to do any more to help low-income families and workers afford the new housing. Though Rogers claimed he wanted to see the City do more, he voted for the project anyway, along with the other 4 members of Council.
Given the issues that the Foundation’s workforce has finding affordable housing in Williamsburg, one wonders why CW leadership passed up the opportunity to address the problem themselves. I suppose the decision has to do with the cash pouring into their coffers after building an apartment complex that most of their workforce can’t afford. A review of advertised pay rates for a variety of workforce level jobs currently listed on jobs site Indeed.com ranged from $15-$25 per hour, for both entry-level and manager-level positions. Now consider the current prices to live at Governors on North Henry:
The lowest monthly rent recently listed for a 1 bedroom apartment was $1,780/mo., while a 2 bedroom listed for $2,100/mo. Both figures are significantly higher than the median gross rent in the City of $1,361/mo.
The annual income required to afford a 1 bedroom apartment at Governors on N. Henry is $71,184/yr. — that’s twice as high as the City’s per capita income.
The typical Williamsburg family doesn’t earn enough to afford a 2 bedroom at Governors on North Henry. (Perhaps someone in that family could just get a part-time job at CW to earn the extra $14,000 they would need.)
Current Midtown
221 Monticello Ave, Williamsburg, VA 23185
Built: 2020
# of units: 240
Bedrooms: 1 - 4 bd
Bathrooms: 1 - 4 ba
Square Feet: 749 - 1,373 sq ft
During the community meeting, Fleet also spoke about the apartments called Current Midtown as an example of effective high-density development in the City. But in terms of affordability, the situation there is actually worse than at Governors on North Henry. The complex may offer the most jaw-dropping example of ridiculous pricing in the City, and students of William & Mary are the likely victims. Specifically:
A 4 bedroom apartment at the complex is $4,700/mo, a whopping 245% above the City’s median for all rental property. A typical family would need to make $187,980/yr. in order to afford those prices, that’s $117,774/yr. more than the City’s median family income.
The $114,000/yr. income needed to afford a 2 bedroom apartment is 63% percent more than a typical family makes in the City.
The City’s per capita income is less than half of what’s necessary to afford even a 1 bedroom apartment at Current Midtown.
High Street View Luxury Apartments
150 Kings Manor Dr, Williamsburg, VA 23185
Built: 2019
Bedrooms: 1 - 3 bd
Bathrooms: 1 - 3.5 ba
Square Feet: 564 - 2008 sq ft
This high-density development approved near High Street certainly wasn’t ever geared for the typical Williamsburg family. The rents at these self-billed luxury apartments also shape up as some of the region’s most expensive:
Like Midtown, the City’s per capita income is less than half of what’s necessary to afford even a 1 bedroom apartment at the High Street Luxury Apartments.
A 2 bedroom apartment would require an income of over $90,000/yr., 25% more than what the typical family makes.
The 3 bedroom costs $2,865/mo. and is more than twice as much as the City’s median rent, requiring an income of $114,000/yr. to afford.
City Lofts (2013) & Sterling Manor (2008)
Older developments in the area are cheaper, but still cost more than the median rent across the City. For example:
Even a 1 bedroom apartment at City Lofts (a redeveloped hotel) is $347 more expensive than the City’s gross median rent.
Rent of $1,829/mo. for a 2 bedroom apartment at Sterling Manor is still slightly more than a typical family can afford according to the affordability calculator.
Time will tell if City leadership is actually motivated to build affordable housing or just capitalize on the issue to build properties out of reach for most people and families. If the past is any indicator, we already know the answer.
(Update 1-14-25: removed use of “median individual income,” corrected with “per capita income”. The percentage of rent for a 4 bedroom at Current Midtown versus median for City rental property was updated and restated for clarity.)
George Arbogust is Founder and Editor of the Williamsburg Independent. You can contribute too! Email tips & story ideas: contact@williamsburgindependent.com