FLORENCE, Ky. — The future of Northern Kentucky’s economic strength in later generations may depend on how seriously local leaders address the region’s housing shortage.

A study produced by the Northern Kentucky Area Development District in 2023 stated the following: “Communities need to plan for an additional 6,650 housing units (in the next five years) on top of new developments already in progress or planned.”

Those units break down to:

• 3,260 aligned with an income range of $15-25/hour (monthly housing costs between $500 and 1,500)
• 500 units aligned with very low-income households (monthly housing costs below $320)
• 4,220 units should be one- or two-bedroom

Read the full study here.

Local leaders from across the region on Tuesday unveiled a report full of solutions to address that shortage.

It outlines 50 diverse strategies aimed at “affordability, accessibility, and innovation, providing a framework for economic growth and community development,” NKADD wrote.

Campbell County Judge-Executive Steve Pendery said the stakes for the region’s economy are very high.

“Housing in particular is a huge roadblock that we are all committed to removing,” Pendery said.

Among the 50 solutions are 10 that are deemed most promising, including:

• Stakeholder idea sharing
• Proactive code enforcement
• Expedited permitting process
• Landlord property inventory
• Development agencies education
• Missing middle housing strategy
• Creative zoning approaches
• Regional housing trust fund
• Development cost support
• Small developer support

Read the full report here.

Some of the changes are fundamental shifts in the way housing has been historically planned, built and approved in Northern Kentucky.

Grant County Deputy Judge-Executive Colton Simpson suggested that the prospect of less expensive housing could encourage broader political support.

“If somebody said, ‘We are going to be able to decrease the price of housing,’ I think (government leaders are) more open to that than they have been in the last 10 or 15 years,” he said.

The need for income-aligned housing is about “offense” and “defense,” said Brent Cooper, president and CEO of the NKY Chamber of Commerce, utilizing a football analogy.

Communities that build more housing are not only able to attract more workers to support growing businesses (offense) but also keep individuals already living in the region from having to move (defense).

“I’ve got elderly parents, and they have to deal with steps,” Cooper said. “They want to downsize, but there’s no option for them to downsize that they can afford.”

The chamber president mentioned that companies often consider housing availability as a determining factor in their decision to remain or move to the area.

For companies based at or around the Cincinnati/Northern Kentucky International Airport, the demand for additional housing is real.

“As Amazon and DHL continue to hire folks, we need to really keep pace with that growth,” said Seth Cutter, Vice President of Public Affairs at CVG.

While there are several housing development projects in the works, he said it is insufficient to meet the rapid growth from the airport.

Leaders recognized that the report won’t provide instant fixes, but said they are optimistic about the potential conversations it may spark around change.

“This was about getting information to the decision maker,” said Judge-Executive Gary Moore of Boone County. “This isn’t just going to be solved by the large cities or the large counties. It’s really got to be a widespread effort.”

The Northern Kentucky Area Development District is encouraging its jurisdictions and local businesses to look at the resort and pick from the “menu of options” that best work for its communities.