Affordable San Diego Townhomes Almost Impossible To Sell
Nearly All Applicants For Affordable San Diego Housing Excluded
6:52 AM, Jan 25, 2006
Affordable housing is incredibly scarce in San Diego, so why are brand new affordable townhomes nearly impossible to sell?A brand new townhome with three bedrooms, 2 & bathrooms and a two-car garage is only $243,000, but the developer can't sell it."Unfortunately, we've had a challenge finding home buyers for those homes," said Marcie Little, with The Olson Company.The Olson Company is building 11 affordable units in a project called Legacy Walk as part of the city's inclusionary housing program. But so far, nearly all 180 applicants, including Dominique Woodson, have been excluded."We were a little bit above the income level for here, as we found out, but not enough to live on the outside," said Woodson."I still feel a little angry about it," said Betty Cooks.Cooks, also rejected, had the opposite problem. She just retired, so her income is low enough for the affordable housing guidelines, but not high enough to get a loan.The issue is a single person can't make more than $44,400. For a couple the limit is $50,700, but they still have to qualify for a $1,875 a month payment, 10News reported."We've had over 180 people turn in applications, (but we were) only able to approve two of those people," said Little.Little blames guidelines that are too narrow. She says they are unrealistic for people like the Woodsons who missed a golden opportunity over a few thousand dollars in income."If my husband and I made less, (I) don't see how we could make the payment," said Woodson.The townhomes in the project offered at market rate, around $400,000, are selling quickly. It's the affordable ones half that price, that are left on the market empty.The San Diego Housing Commission administers the affordable housing program.Legacy Walk is located on Newton Avenue in Southcrest.For more information about the affordable townhomes, visit www.TheOlsonco.com.
You can also check out the Legacy Walk Guidelines.