SAN DIEGO (KGTV) — The non-profit Circulate San Diego released a new report Monday that applauded the city's Affordable Homes Bonus Program.
The AHBP was founded back in 2016 with the intention of increasing the production of both market-rate and deed-restricted affordable homes.
The report found that in 2020, 44% of all homes entitled in San Diego were in developments that used this program. The report states that since the program began in 2016, the AHBBP was used in projects creating 6,481 homes.
On Monday, Circulate San Diego along with Mayor Todd Gloria unveiled the construction of the Mid-City Affordable Project, an 100% affordable housing development for low and middle-income seniors and families. The construction company, Chelsea Investment Corporation, believes it will be completed sometime in July.
Mayor Todd Gloria is hoping to see more developments like these pop up throughout the city and the state.
"It's a lot like a Costco effect. We all enjoy the bargains that we get when we buy in bulk, this is what we are doing for housing, and that's why it's going to make housing much more attainable for everyday San Diegans," Gloria said.
The Mid-City Affordable Housing Project will host roughly 192 units. Through the Affordable Homes Bonus Program, developers are able to build more homes for less and allow renters to not have to pay more than a third of their paycheck.
"They have additional money that's available to them to improve their quality of life. To afford transportation, to afford food, childcare and healthcare. To have money to save for a rainy day."
According to the report,since 2016, the City of San Diego has entitled 462 affordable homes in developments across the city that cater to various income levels. Mayor Gloria says that it is not just about giving San Diegans more options but putting dollars back into our neighborhoods.
"When there's no development, there's no infrastructure dollars. Because we haven't built housing for such a long time, that is why you see the poor conditions of our roads, the poor conditions of our parks, etc.," Gloria said.
He furthered, "When we incentivize development that is attainable housing, again, we have no problem building luxury housing; we got a ton of that. We have to build more housing that is attainable to low and middle San Diegans. It's to their benefit, to the benefit of small local businesses, and to the benefit of our local infrastructure that quite frankly, needs some freshly paved streets, some new sidewalks, some new libraries and parks."
During a press conference, leaders asked that the California Legislature give more relief to developers regarding building regulations if they continue to build more affordable housing units throughout the city and state-wide.
"I mean how many of your viewers have expressed this, I don't own enough for the market rate, but I earn too much to qualify for low-income. And that's that missing middle," Gloria said. "And projects like these help to address that missing middle."
The city says there are other projects in the pipeline. The Mayor says the focus now is on providing more affordable housing for families.