How Can California Rein in Skyrocketing Cost of Building Affordable Housing
A recent Los Angeles Times report examined seven affordable housing projects in Northern California in which the cost of development surpassed $1 million per unit. Part of the reason for the exorbitant cost of building is skyrocketing construction prices with rising material and labor costs exacerbated by the pandemic and supply chain shortages. But, as the L.A. Times points out, local and state requirements add a sizable amount to the total expense. For nonprofit developers who build subsidized housing, that means fewer units for more money. As California looks for ways to alleviate the…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.