Middle Income Housing Incentives Set for Committee Review

By Matt Adams
Incentives targeting the production of housing affordable to middle income households will be heard at the San Diego Smart Growth and Land Use Committee later this month. The Middle Income Housing Regulations are part of Mayor Kevin Faulconer’s Housing SD work plan and would add multiple incentives for developments that include homes affordable to household incomes ranging from 120 percent to 150 percent of the area median income. The program’s components mirror San Diego’s Affordable Housing Regulations. Applicants can take advantage of a 25 percent density bonus and other incentives and waivers so long as the project reserves at least 10 percent of the pre-density bonus units for middle income household earners. It also requires that a portion of the project be located within a Transit Priority Area. Rental housing would be locked in for 55 years and for sale homes would remain affordable for 15 years with an equity sharing agreement with the San Diego Housing Commission. If approved by the committee the proposal would go to the full city council for consideration.
By |2018-05-07T10:16:02+00:00May 7th, 2018|Uncategorized|0 Comments