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St. Anthony 2040 Comprehensive Plan Chapter 5: Housing 56 whether its regulatory structure and city identity are attractive to rental housing development. Housing need goal: Anticipate and meet increased rental demand at all affordability levels. • A quarter of St. Anthony’s households are cost-burdened, and a majority of these households are at or below 50% AMI. One in four households meet the definition of cost-burdened meaning they are paying more than 30% of their income on housing. A disproportionate share of these cost burdened households are lower- income households. • Housing need goal: Reduce overall community housing cost burden, particularly by supporting those projects that provide affordability for households in the <50% AMI categories. • The housing stock in St. Anthony is aging, and residents will have increasing maintenance and upkeep requirements in the coming decades. St. Anthony contains mostly smaller-lot single family homes developed in the 1950s, 60s and 70s that are beginning to age and may not be as attractive or suitable for modern households as they once were. Developing strategies to maintain and support St. Anthony’s existing housing stock, particularly for those households with lower incomes and fewer resources, will remain a significant challenge in the decades to come, and will be important to continue to attract newcomers to the city. Housing need goal: Support housing maintenance assistance programs, particularly for lower-income households. • St. Anthony, along with many urban communities, is at risk of losing its naturally occurring affordable housing to redevelopment. St. Anthony has a certain amount of housing that is considered affordable by way of “naturally occurring” means. Typically, naturally occurring affordable housing comprises older attached and multifamily housing that may have deferred maintenance needs or is of an older or obsolete style. Naturally occurring affordable housing is an important source of housing affordability in many Twin Cities urban communities but requires a careful, balanced approach. All residents have a right to live in safe and well-maintained housing, but maintenance and other upgrades (including redevelopment) can contribute to the loss of housing affordability in a community. There are proactive steps that St. Anthony can take to recognize the important role that naturally occurring affordable housing plays in the community, typically supporting households between 30-80% AMI,