County Housing Fund targets nearly 1,400 affordable housing units
Photo by KPBS
San Diego County will help create nearly 1,400 affordable housing units in 20 developments in 15 area communities, it was announced at the supervisory board meeting on Tuesday.
The figures were announced in a Tuesday update on the results of the Innovative Housing Trust Fund, established by the county in 2017.
The Innovative Housing Trust Fund has invested $ 50 million to build affordable housing in the area, which aims to help the county and its partners use $ 567 million in other public and private funds to create and preserve 1,397 housing units affordable permanent throughout the county.
“Considerable work is being done across the county, not only to increase the number of affordable apartment houses, but also to stimulate economic growth in the area,” said David Estrella, director of housing and community development services. at the County Health and Human Services Agency.
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During the 99-year “affordability period”, the units created will serve approximately 18,000 low-income families, seniors, veterans, people with developmental disabilities, homelessness and homeless people with severe mental illness. .
Five of the 20 developments funded by the trust fund have opened in recent years in the cities of San Diego, Poway and Vista, and have generated 368 affordable housing units.
There are 10 developments under construction, and they are expected to be completed between December 2021 and January 2024. Five more are in the process of being funded.
“The trust fund is the first of its kind, being the first locally funded and administered program to provide funding for affordable housing throughout the San Diego area,” said Nick Macchione, director of the HHSA.
At the request of supervisors Terra Lawson-Remer and Joel Anderson, the council also approved an additional $ 25 million to support the production of affordable housing.
In total, $ 20 million of these funds will be used to create and / or maintain affordable housing in the region. Five million will be used for housing research, policy development and piloting new programs and initiatives to develop comprehensive solutions that can accelerate housing production.
The aim is to provide “innovative housing solutions that promote equity, sustainability and affordability,” a county statement said. It is estimated that the region will need approximately 83,000 affordable housing units by 2029 to keep up with population growth.
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