San Jose is falling far short of its goal of building 21,000 affordable housing units.
The city has built 5,057 units, the Silicon Valley Business Times reported, citing the city’s annual housing report, well below the goal set by the Association of Bay Area Governments, a planning agency made up of nine counties from the area. Last year, the city issued just 730 permits for affordable housing.
The numbers are short across the board:
-Extremely low income: 611 of 4,617
-Very low income: 1,328 of 4,616
-Low income: 387 of 5,428
-Moderate income: 2,731 or 6,188
The one category the city met was for market-rate housing, for which the city built 15,042 units, above its target of 14,231. San Jose has about 8,600 units that are either in planning stages or already permitted.
Affordable housing developer AMG & Associates recently paid $5 million for a 2.3-acre site at 4310 Monterey Road, north of Skyway Drive, near a Caltrain stop. AMG will build a 426-unit complex at the site.
The city last month rejected Swenson Builders’ proposed project consisting of 400 permanent, affordable homes at the six-acre Evans Lane site between Curtner Avenue, Highway 87 and the Almaden Expressway in favor of 49 temporary ones.
Governor Gavin Newsom has called for local jurisdictions to zone for 2.5 million homes by 2030. A million of those must be affordable.
[Silicon Valley Business Journal] — Gabriel Poblete
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