Housing Commission announces $46 million to create affordable housing

SAN DIEGO (KUSI) – The San Diego Housing Commission announced Wednesday it was accepting applications from property developers for more than $46 million available from federal and local funds to create and preserve affordable rental housing units, including homes for individuals and families experiencing homelessness.

It is accepting applications to bolster the city’s affordable housing supply through Oct. 30.

This funding includes $21.6 million set aside specifically to preserve or extend the affordability of existing rental housing units in San Diego — a significant need identified in the SDHC report “Preserving Affordable Housing in the City of San Diego.”

“It’s incredibly exciting to see more than $46 million become available to confront our housing crisis, particularly $21.6 million to preserve existing affordable rental housing,” said San Diego City Council President Georgette Gomez. “The affordable housing preservation study we released this summer won’t just sit on a shelf — we’re already taking action to implement its recommendations. I’m looking forward to partnering with the Housing Commission and the private sector to put these dollars to work for San Diego’s families.”

In addition to the preservation funding, up to $25 million is available to support the development of new affordable housing units or to rehabilitate existing affordable housing. This includes $10.6 million for permanent housing with supportive services for individuals and families experiencing homelessness.

“Addressing the city of San Diego’s housing challenges requires a balanced approach that creates new housing, while making sure that existing affordable units remain affordable. These funds will provide essential support for both of these efforts,” said Richard Gentry, SDHC president and CEO.

SDHC will award funds and, in some cases, rental housing vouchers to qualified developers and organizations through a competitive application process.

Rental housing units created or rehabilitated with these funds will be required to remain affordable for at least 55 years. Existing units, including naturally occurring affordable housing without current rent restrictions, would be subject to long-term affordability restrictions if SDHC awards funds to those properties.

Through Fiscal Year 2020, SDHC awarded more than $22.1 million to support the creation or rehabilitation of more than 880 affordable rental housing units and more than 500 rental housing vouchers to help households with low income or experiencing homelessness pay their rent at these developments.

Categories: Local San Diego News