A new study from CalMatters revealed that there are an estimated 40,000 affordable housing units are available for construction in California. However, holding them up is one setback experts mentioned may affect construction.
The proposed apartment complex on Modesto’s East Morris Avenue is precisely the kind of development that California’s political leaders would want to see many more of, with half of the 44 affordable housing units promised by the project would be set aside for homeless individuals. It is located next to a busy bus line, has won zoning permission, has withstood public criticism, and has gained the backing of local government figures. The initiative offers Zumba classes, job training, and on-site mental health treatments once it is constructed.
However, money is what the initiative lacks. It has pieced together a financial patchwork of corporate and local government grants, private debt, and a foundation-donated parcel of land, but it is still short of the sum required to start construction. The Morris Village project is ready, but it has been waiting for six years and thirteen funding applications since it was first suggested.
Affordable Housing Units Giving Americans More Options
According to a recent assessment by Enterprise Community Partners, a national nonprofit that supports, advises, and promotes affordable housing, an estimated 39,880 affordable units in California are locked in financial purgatory. That amounts to 461 “shovel-ready developments,” such as the one on East Morris, that are completely planned, approved by the law, and supported by a sizable but still insufficient sum of money…