NewsMaking It In San Diego


$25 million approved for San Diego County affordable housing projects

Posted at 12:10 PM, Aug 07, 2018
and last updated 2018-08-07 15:10:07-04

SAN DIEGO (KGTV) - In an effort to help solve the homeless problem, the San Diego County Board of Supervisors voted unanimously Tuesday to approve a program that will provide $25 million in financing for seven affordable housing projects.

The new development will add 503 units.

"This is a game changer," says Supervisor Ron Roberts, who championed the proposal along with Supervisor Dianne Jacob. "For the people that need this, this will be a godsend."

The money comes from the Innovative Housing Trust Fund, which was created in 2017 to help provide gap financing to developments that can add affordable multi-family rental housing.

Many of the units from the first seven projects will be earmarked for the homeless, veterans, people with disabilities or mental illness, families and seniors.

"For a family of 4 earning just over 70,000 dollars, they won't pay more than 1,900 dollars a month," Roberts says. "You can't find enough bedrooms for a family of four at 1,900 dollars in San Diego."

The seven projects will be spread out throughout the county with two in the Otay Mesa/San Ysidro area, two in Vista and one each in Poway, San Marcos and the Southcrest neighborhood of San Diego.

All of the projects are expected to be completed by December of 2021.