New Quincy Housing Plan looks to be solution to more living options

QUINCY, IL (KHQA) — Over the past year, discussions in the city of Quincy have been centered around the need for affordable housing.

After the Great River Economic Development Foundation, GREDF, conducted a county-wide housing study and shared those results, the Quincy City Council voted that the city is in dire need of more funding for more housing.

GREDF President Kyle Moore says this is a step in the right direction.

“It’s important, one because our employers are having a hard time recruiting people here because the lack of housing,” said Moore. “It’s also important because we’ve heard from a number of people, whether they be newcomers to Quincy or people who are just looking to move into a new home, how difficult their journey is.”

Moore says the study took a look at not only low-income housing–but housing at all levels.

“This housing study really gave a 360 degree view of the housing market in Quincy,” said Moore.

Moore says many people looking for a place to live in Quincy have had a hard time finding something affordable and available.

The new housing plan looks to solve that issue.

“Affordable market rate apartments, for example, have a .7% vacancy rating. When you take about income rate apartments, those would be what some people would title low-income,” said Moore. “But there are a number of apartment buildings that are just income-based where it’s a sliding scale based on what you make. That vacancy rate right now is 3%.”

Affordable housing also includes starter homes.

Currently, Moore says the average mortgage in Adams County is $1,100 meaning with the current market conditions, families can afford around $130,000 house.

Moore says there are only about 35 houses at that price in the market.

He says there will need to be a significant number of additional homes to provide adequate housing options.

“We looked at not only affordable apartments, income-based apartments, we looked at town homes, senior homes, as well,” said Moore. “We projected that in one year alone, we need 400 units alone brought to the market just to keep up with demand.”

Moore says everything with the housing plan points back at the major goal–growing the city of Quincy.

“The important thing, when this housing study is passed, we are going to be able to apply for and tap into state and federal funding, and that’s what is also the good thing about this program,” said Moore. “We’re going to be able to bring in more dollars back into the community that people pay to Springfield and Washington D.C.”

Moore says the plan still needs to be approved by the Adams County Board which he hopes happens at their next board meeting.