40. Community Need The need for affordable and accessible senior rentals is acute in Yellow Springs, which is an aging community. A significantly older population resides in Yellow Springs than in the rest of Ohio, with 32.5% of residents aged 65 and older compared with only 17.0% of all Ohioans, according to the 2020 Census. As one of three Ohio designated dementia-friendly communities Yellow Springs is an ideal community to host a senior-focused affordable housing project. Yellow Springs Home, Inc. (YSHI) currently has more than 275 households on an affordable rentals interest list, with 100% occupancy in our existing portfolio. YSHI’s last project, the Glen Cottages Pocket Neighborhood, received more than 13 applications per available unit. All YSHI rental projects have waiting lists, demonstrating pent-up demand.

The Cascades responds to data trends identified as statewide priorities by the Ohio Housing Finance Agency, including a rising aging and disabled population. Housing challenges for these at-risk populations include limited housing options for seniors and persons with disabilities; a unique risk of housing instability and homelessness due to housing cost burden; significant housing cost burden amongst older adults; an above-average population with disabilities including aging adults; and more than half of renters with disabilities experiencing housing problems. These data points reflect the Yellow Springs’ context, with higher than average and rising percentages of seniors and persons with disabilities. A recent Enterprise Opportunity 360 dashboard report further demonstrates that more than half of all renters and a quarter of homeowners are housing cost burdened in Yellow Springs.

A 2018 Yellow Springs Housing Needs Assessment by Bowen National Research included more than 500 local participants and further confirms pent-up market demand for rental housing affordable to seniors of low-to-moderate income. Moreover, more than 100 participants involved in the Yellow Springs Comprehensive Land Use Plan 2020 have indicated that affordable senior rentals are a top local housing priority. Additionally, a 2022 Livable, Equitable, Age-Friendly Yellow Springs survey engaged more than 170 residents—again, affordable senior housing was named a top local priority. The current project was specifically informed by public input from more than 90 residents through listening sessions with neighbors, public officials, local seniors, and other stakeholders alongside an online survey.

Many seniors in Yellow Springs simply have nowhere to go and struggle in place with affordability, isolation, and safety. The Cascades will make a huge difference in an extremely tight housing market, resulting in greater freedom of choice, housing stability, and quality of life for seniors who reside in the development. A partnership with the Ohio Department and Greene County Board of Developmental Disabilities provides for a set-aside two-bedroom unit for a person(s) with a developmental disability, in conjunction with coordinated support services. In addition to meeting pent-up demand, the entire community will benefit from greater housing choice, greater housing supply, improved infrastructure, infill development, and tax revenue.