Issue link: http://townofcary.uberflip.com/i/791946
16 2. LIVE Cary Housing Plan The LIVE chapter outlines policies to guide housing development in Cary. It emphasizes suppor ng housing variety and adding more housing to accommodate Cary's growing popula on. The Cary Housing Plan lays out specific strategies for implement- ing Imagine Cary's policies while aligning housing policies and programs with the community's values. Cary's property values are evidence of the successful efforts to create and support a high quality of life. At the same me, increasing market pressures can result in affordability challenges for some residents and impact the quality of older housing. Imagine Cary outlines policies to guide housing development in Cary, and the Cary Housing Plan provides more specific guidance to implement the policy vision and meet the housing needs of Cary residents. Underpinning this plan is the idea that Cary will remain a community of choice for the region and maintain a high standard of living for all residents. To reflect the policy guidance in Imagine Cary, this planning process took a new approach, looking at the full context of the housing market. The Cary Housing Plan builds on the Imagine Cary Community Plan, going beyond a focus on affordability to outline specific ac ons that implement the policies of Imagine Cary and support the housing needs of all Cary residents over the next decade. Stakeholder engagement provided valuable context for the devel- opment of the Cary Housing Plan. The Cary Housing Working Group included representa ves from Cary staff and leadership, local nonprofits, and housing developers, who provided input in the early stages, including advising on how the LIVE chapter of Imagine Cary should inform the priori es of the housing plan, reviewing the findings of the housing needs assessment, iden - fying key opportuni es and challenges related to housing in Cary, and developing a strategic direc on for the housing plan. Throughout the planning process, interviews and focus groups with a variety of stakeholders offered useful insight into Cary's housing needs. These stakeholders included real estate brokers, developers of market rate and subsidized housing, the Western Wake Affordable Housing Ac on Group, Cary staff, community members, and disability advocates. These interviews contributed to an on-the-ground understanding of Cary's policies, develop- ment processes, housing market, and community priori es. This policy guidance and the three goals of the housing plan have been incorporated into the LIVE chapter policies: ▪ Goal 1: Continue to be a community of choice by ensuring high-quality and diverse new housing development. ▪ Goal 2: Ensure that all Cary residents can enjoy the full benefit of Cary's high quality of life. ▪ Goal 3: Pursue regional and nonprofit partnerships to meet housing need. In 2024, Cary launched the new Cary Housing & Community Partnerships website: housing.carync.gov