SAN DIEGO (KGTV) — A large-scale housing project off circle drive in Mission Valley has recently sparked conversation on social media.
The Broadstone Mission Valley development includes multiple buildings and almost 500 units, 25 of which would be affordable for families making up to 50% of the area’s median income. A small part for such a big development, but something the region sees as a lot.
“We do have what's called inclusionary zoning here where we require typically 15% of the units to be affordable,” CEO of the San Diego Housing Federation Stephen Russell says.
His organization advocates for more affordable housing across the region and right now, he says we’re facing a supply crisis.
“Some things are improving, some things are getting worse,” Russell says.
As San Diego grows, the number of homes being built just hasn’t kept up, even if rent prices have leveled off.
“135,000 households are paying too much in rent,” Russell says. “They don't have an apartment that is affordable.”
Russell broke down this chart showing housing production over the last two decades:
Pointing to a big dip following the recession, he says while multi-family projects are on the rise, they’re still not enough.
“The third takeaway, the important one is the average need,” Russell says, which is illustrated by the dotted green line. A need that according to his organization is not being close to met.
And while developments like the one by Mission Valley can help, Russell says they’re just one piece of a much bigger puzzle.
“There's some definitely some benefit there,” Russell says. “[But] I wish that the number, the percentage were higher. We have a need for it.”
The San Diego Housing Commission says over 700 affordable units have been made available in the last fiscal year.
But the goal is much higher. The city’s target is 108,000 new units by 2029. That means building about 13,500 a year, triple what’s currently being produced.
“We have more housing in total, which we need. we just don't, we aren't getting the affordability coming up as quickly as we're getting this new market rate housing,” Russell says.
