SAN DIEGO (KGTV) – We're getting a better idea of what California measures and propositions are on the verge of passing following election night for the 2026 midterms, including Proposition 1.
Proposition 1 is meant to bring more affordable housing funding here to the Golden State.
“Prop 1 is a statewide bond measure that'll produce $11.25 billion for production of housing in the state of California, “Stephen Russell, President & CEO of San Diego Housing Federation, said. “It will include a number of different pots of money for, for, for veterans, for homeowners, for just a whole variety of folks.”
Prop 1 received a fairly strong yes vote with a near 60-40 vote split in favor of the ballot item.
“Based on traditional trends, out of the $11.25 billion for the state, we'd expect to see almost a billion dollars of that here in San Diego over the lifetime of the bond,” Russell said.
Russell says the money on Prop 1, depending on how it’s divvied up, could help create around 4,000 affordable housing units in San Diego County.
“When you look at traditionally, we've received, we are about 1/8 of the population of the state of California, so statewide programs, our fair share, if you will, would typically be about a billion,” Russell said.
ABC 10News also spoke with PATH, a local homeless resource group, about how Prop 1 impact can help the housing crisis.
“It's going to make a really meaningful impact to people that are living on the street, and people just can't make ends meet, Zach Schlagel, Senior Director Of Public Policy for PATH, said.
Schlagel also said this won’t just help get people off the streets but those who are one situation away from falling onto them.
“We know right now, like the median home is about a million dollars and rent is about $3600 a month. That's just unsustainable for so many people,” Schlagel said. “So, it's just like trying to increase supply, get more affordable units online, and try to get costs down for people.”
“This is the resource we need to help people stay housed, to make sure people have stable lives, to help people move up that ladder. It helps us replace some of the missing rungs on the housing ladder,” Russell said.
Russell said this kind of incoming funding can help housing projects that are ready to go finally get going.
“Exactly. There's a lot of projects have a gap; these funds will be able to fill some of those gaps, and so projects that have been waiting, that are permitted, that are, you know, ready to go, we can move forward,” Russell said.
