Council Approves Program to Stimulate Middle Income Housing
By Matt Adams
The San Diego City Council voted to create incentives it hopes will lead to more moderate income housing production. The Moderate Income Housing Regulations were shepherded by Councilmember Vivian Moreno and as part of Mayor Kevin Faulconer’s housing stimulus program. The BIA, San Diego Chamber and others applauded Moreno for resurrecting the plan that had stalled for months as the council wrestled with its Inclusionary Housing regulations. Home builders using the city’s Affordable Housing Density Bonus program can get an additional 25% density bonus provided that an additional 10% percent of pre-density bonus units are restricted for households earning up to 120 percent of the area median income and the project is located within a Transit Priority Area. Moderate income housing production is practically non-existent due to regulatory and economic mandates.