Housing

Golden Valley benefits from a diverse, high-quality housing stock that offers options for residents. Of the city's 9,387 housing units, 76 percent (7,144 units) are owner-occupied and 24 percent (2,243 units) are renter-occupied.

Residential Redevelopment

Golden Valley is a fully developed community, so any new housing will likely occur through the splitting of an existing lot and/or the tear down and replacement of an older home. The City has processes in place to allow for these types of activities while at the same time striving to protect neighboring properties and homeowners from the disruptions associated with construction to the extent possible.

Subdivisions are approved by the City Council after review by the Planning Commission. Tear downs and rebuilds are regulated by the Inspections Division. All construction activity must follow the provisions outlined in the City’s Construction Maintenance Agreement.

Subdivision Regulation

Tax Parcel Division

Tear Down & Rebuild

Construction Management Agreement

Affordable Housing

Tenant Protection Ordinance

In August 2018, the Golden Valley City Council adopted an ordinance enacting a tenant protection period following the sale of an affordable housing building. The goal is to protect lower-income tenants in the city. Under the ordinance, new owners of affordable housing buildings would be required to pay relocation benefits to tenants if the owner increases the rent, re-screens existing residents or implements non-renewals of leases without cause within a three-month period following the ownership transfer of the property and the tenant chooses to move due to these actions.

The ordinance was also recently adopted by the City of St Louis Park. It was recommended by a workgroup convened by the Urban Land Institute and the City of St Louis Park, advocating for the preservation of naturally occurring affordable housing (NOAH). The workgroup included representatives from MN Multi-Housing Association (MHA), the Golden Valley and St Louis Park rental community, and representatives from agencies advocating for the preservation of NOAH. NOAH properties are rental buildings where at least 15 percent of the units have rents affordable to households with incomes at or below 60 percent area median income (AMI). The 15 percent mirrors the percent of affordable housing units required at 60 percent AMI by the Golden Valley Mixed-Income Housing Policy.

The ordinance takes effect on Oct 1, 2018. The Tenant Protection Ordinance Information Packet outlines its requirements and provides other resources to help owners and property managers understand it.

Mixed Income Housing Policy

The Golden Valley Mixed Income Housing Policy requires that a portion of new housing units in eligible projects must meet affordability requirements set forth in the Policy. The Policy acts as an implementation tool to aid the City in meeting its short-term and long-term housing goals. The City has identified the need for affordable housing as a high priority in the Comprehensive Plan. Mixed income housing has been identified as an important component of the City’s affordable housing goals. Research shows that mixed income communities are a key component in building economic vitality and competitiveness by attracting and retaining residents, as well as supporting major employers. Several strategies have been researched for implementation at the local government level. One strategy to meet this goal is to work with local developers to reserve a portion of their new units for low- and moderate-income residents.

In order to adopt a policy that is feasible in the Golden Valley housing market, the City conducted a community-wide assessment of housing supply, demand, policies, incentives, and regulations as part of the update to the City’s Comprehensive Plan. To build on this research, the City received technical assistance from the Family Housing Fund and the Urban Land Institute of Minnesota/Regional Council of Mayors (ULI MN/RCM) and Grounded Solutions Network. The Golden Valley Mixed Income Housing Policy was crafted based on this research as well as best practices from other cities throughout the Minneapolis-St Paul region (such as Edina, St Louis Park, and Minnetonka).