1.  Purpose of the chapter

 In its most simple form housing may be defined as dwellings or shelter provided for people. In our society, however, housing imparts a much greater significance. As shelter, it protects our basic social unit, the family. As a commodity, it is often the singular largest financial commitment that one makes in a lifetime.  Approximately 25% to 30% of the average American’s income is dedicated to housing. Construction of new housing is a driving force in the United States economy. Real estate taxes based on assessed property values of homes and businesses are the primary source of revenue to cities and towns in New Hampshire.

 The purpose of this chapter is to describe the housing available in Waterville Valley today, project the needs over the next twenty-year period, and identify any changes in law that are required to provide good and balanced housing development that protects the rights and investments of residents. Future development must not be at the expense of our cherished environment. It must be in partnership with the natural surroundings

 2.  Specific objectives

 The government of the Town of Waterville Valley does not build or develop housing or commercial spaces. Such development is the result of investment by commercial and residential property developers, which they undertake in the hope of creating a profit. The Town, however, has control over any such development through its zoning ordinance, subdivision control law, taxation, and eminent domain. The Town must also ensure that any development meets the requirements of federal and state law. Examples include the protection of wetlands, enforcement of fair housing law, accessibility, and affordability.

 Specific goals of this chapter of the master plan include

1. Review current housing status
2. Identify any opportunities to provide immediate enhancement to regulations
3. Identify any changes in laws that are required to ensure that state and federal requirements are currently being satisfied.
4. Project requirements for additional housing needs over the next twenty years
5. Identify any changes in law necessary to administer growth over the plan period 

3.  Existing conditions, circumstances and facilities           

Housing in Waterville Valley 

The Town of Waterville Valley is unique among the towns of Grafton County. It is truly a peaceful valley surrounded by majestic mountain peaks.  The natural beauty of the mountains and streams attracts people from all walks of life. The number of permanent, or year-round, residents is relatively small but growing. Most full time residents are property owners, while a small percentage rent their dwellings. There are a large number of non-resident property owners, those that come to the valley periodically for stays of various lengths. Some may come for weekends only, while others may stay for a full season, either summer or winter. The housing needs of the full and part-time residents are satisfied by single-family homes, condominiums, and to a lesser extent, the lodges. 

The primary industry of Waterville Valley is recreation  and other leisure oriented activities. It is a year round resort, catering to enthusiasts of various snow and ice sports in the winter and golf, tennis, hiking or biking in the other seasons. Thus, it attracts many non-property-owning visitors that stay in the town for various durations. The housing needs of these visitors are satisfied through the rental of condominium units, lodges, and inns. The health of the local recreation industry, restaurants, and other merchants is very much dependant on the availability of housing for visitors.  

The large majority of living units in Waterville Valley are condominiums, many of which serve as second homes to non-resident property owners. Some of these homes are used only by the owners and their families, while others are available for rental use by visitors to the resort. From the mid 1970s through 1990 part time rental of condominium units was very common. However, during the period of 1990 through 2000, the percentage of units available for rental use declined as more owners tended to reserve the property for their exclusive use.  Management of several resort businesses including the ski area and the ice arena has stressed the importance of rental properties, or beds, to their ability to attract visitors.

 Employees of the ski area, restaurants, shops and the Town also have housing needs. However, home prices, and rents are high, and may be prohibitive to the labor force. Thus, most of these employees must find housing outside of the town. This may be one area of deficiency, especially with regard to public safety personnel.

 Municipal Control

 Local government is empowered to exercise control over land use and housing. The Governmental powers include zoning ordinances, sub-division control, taxation, and eminent domain.  

The Town of Waterville Valley has an effective zoning ordinance, which defines allowable usage of land in the various zoning districts within the boundaries of the town. The purpose of the ordinance is to provide order to development, protection for abutters, a balance to land use within the community, and protection of the town’s natural beauty. The Board of Selectmen and the Planning Board may propose changes or updates to the zoning ordinance as needed.  Approval of changes rests with the voting residents at the annual town meeting. Therefore, the ordinance reflects the desires of the voters in the community.

Sub-division control law defines requirements to which developers must adhere as tracts of land are converted to new housing stock. This set of requirements, administered by the Planning Board, is intended to ensure that growth is orderly and controlled in accordance with the Master Plan. The Town has established design standards and criteria for all development that takes place within it limits.  

New Construction

 In the last ten years construction of new housing units has been ongoing.  New single-family homes include Homes at Northface, River Road, and Jennings Peak, a planned unit development.  The development of new condominiums was limited to Presidential Townhouses and Forest Knoll. Currently a new development of single-family homes, Cascade Ridge, is in process in the north end of the town. There are plans in place for Village Green, a pedestrian village near the center of town, and Moose Run, another development of single-family house lots.  It is possible that some of the lots may be combined to support the development of condominiums. The area of the town is approximately 500 acres, of which 87% has been already developed. At some time in the not too distant future the town will be at full build out condition.

 Housing Costs

 Scarcity of available land, difficult terrain, and increased construction costs are contributing factors to the cost of housing in Waterville Valley. These factors, combined with high demand and low inventory of homes available for sale in the real estate market, are contributing to rapid price appreciation. One can easily find examples of property values increasing by 200 or more percent over the last five years.

 EXISTING HOUSING STOCK

 Table 3-1

Waterville Valley Lodging and Residential Units 2004

Table 3-2

Planned Developments

 Notes:

1. Home construction has started at Cascade Ridge.
2. Some lots at Moose Run may be combined to support building condominiums.

4. Gaps that need to be filled to improve existing conditions and move towards meeting future goals.

 Recent development has focused largely on high-end single-family homes. There has been little development of high-density housing, which provides entry-level opportunities for new residents and reasonably priced opportunities for upward migration. If this trend continues the desirable balance of housing stock could be lost.  If the community is to continue to grow there must be housing opportunities that attract a diversity of permanent residents including young families that will become part of the community and local businesses. 

 There is another factor to consider. Spiraling housing prices may preclude young families with children from entering the community. Thus, the demographic balance, which has existed as the town has grown, may be lost and Waterville Valley may tend to become a retirement community for the wealthy. 

The town’s industry, recreation, is also dependent on high density, moderately priced rental units. Because of the demand for second home lot sites, there has been almost no development of lodges, hotels or high-density condominiums over the past ten years. Anticipating future growth in the resort amenities, there is a need to set aside land for the development of additional visitor lodging in Waterville Valley. 

Current regulations do not include any requirements that developers dedicate a portion of new development to satisfy the needs for affordable housing. The Town of Waterville Valley and the Planning Board support the development of more affordable housing in this community.  

5. Projects and or programs needed to fill gaps..

The zoning ordinance provides zoning districts that guide future development. The various zones restrict the types of housing allowed, density, lot size and coverage, set backs and other restrictions or requirements. Recent changes to the ordinance were intended to ensure that the opportunity for balanced development is maintained in the future. The Planning Board periodically reviews the ordinance and considers the mix of housing developed since the last review. In future reviews priorities should be directed towards.

·        Housing, and lodging to support recreational, educational, and cultural businesses and activities within the community.

·        Residential development that will attract a diverse population of permanent residents.

·        Residential development that supports more affordable housing for local employees and their families.

The Planning Board must be sensitive to legislation that defines requirements for creation of affordable housing. Methodologies employed by other communities to induce such development might suggest changes to current town requirements that would allow the Board to negotiate with developers to include some level of affordable housing in new developments.

 The Planning Board would support a survey of current municipal and public safety employees to determine their interest in obtaining housing within the boundaries of the town. The survey should also address the price range of homes that those employees would be able to purchase. Based on findings, the Town might investigate ways to provide incentives to those employees to settle within the town. Any incentives could be tied to commitments of service to the town.

 The Planning Board would also support a similar survey directed toward the permanent employees of the ski resort and other local employers to better understand their needs.

 There may be a need to provide more accessible housing for those with special needs or senior citizens. The planned adaptive training center my satisfy some or the requirements for accessible housing. The Planning Board needs to be sensitive to this issue as plans for multi-family housing are introduced to the community. Although the Board does not review building designs, it is free to express its concerns to developers, and can often negotiate with developers to achieve desired goals.

 There are federal and state government programs that provide education and financial assistance to lower income families. These programs are often directed toward first time homebuyers. They provide low interest loans and grants to help eligible families become homeowners. Employers and realtors are encouraged to provide information on these programs to prospective employees.