San Diego is one of the wealthiest cities in the country’s wealthiest state, but rising house prices have made most San Diego people struggle to achieve their goals.There is There is no neighborhood In San Diego where someone with a minimum wage can afford a decent home — minimum wage workers will need to work 125 hours a week I can afford to pay the current average rent.
Even if you have a high-paying job, the median home price is $ 1,000,000 It’s a tremendous financial burden to bear. It is clear that housing costs are hitting middle-class workers as well as low-income neighbors. Business competitiveness And entrepreneurial innovation.
We need new and bold solutions to make our city a better place to live again. To do that, we need to stop discussing side shows that likewise demonize developers and governments. Because everyone has a role to play in resolving this crisis.
One thing is clear: the private market alone cannot build affordable homes on the scale we need. We need residential public options, similar to the vision of progressive public options for healthcare in the United States.
Mayor Todd Gloria Housing for everyone The plan emphasizes the ability to build houses in urban facilities. I agree with this approach. Here’s how the city council can help you realize that vision in high-quality municipal housing.
Our city council should prioritize the renewal of the city’s general planning housing elements Establish a public housing program and set an ambitious goal to build 50% of the state’s mandated 100,000 homes in the city Local housing allocation required Over 10 years. The goal should be to produce about 550 new, high-quality, affordable homes annually in each of the nine city council districts.
This construction rate is far higher in other cities around the world. HelsinkiFor example, we have significantly exceeded this rate and built more than 600,000 municipal homes in 10 years.
This social housing creates a revitalized urban village for a mix of economically diverse and sustainable residents of varying sizes and scope. For example, 25% is rent for residents who earn 100-140% of the median income of the area and live comfortably in the area where civil servants such as teachers, police and health care workers serve. Give priority to. We need to raise money by extending established mechanisms such as project-based HUDs and VA home vouchers, and target an additional 25% of these new homes at the most affordable prices.
Such programs should include homes that can be purchased at both affordable and market prices with limited certificates. The wide combination of leasing and sales enables the city to be profit-neutral and the land itself is a major subsidy.
To fund a strong social housing agenda, our city needs to join counties, community colleges, transportation systems and school districts to establish citizens in multiple jurisdictions. Land bank..like that Public bank You must have the ability to secure general debt bonds, acquire assets, lease assets, and hold undeveloped land taxes free of charge for future development. Hedge against gentrification.
Instead of publicly auctioning,surplusLeasing land, or to hotel owners and developers, we believe that you can get better deals by holding the land in city ownership. Reducing the overall cost of affordable housing development by utilizing public land undermines the significant overall impetus for cost.
In land banking Twin Cities For example, the $ 109 million land acquisition was used to drive the development of more than 3,500 homes.recently the study The “soft cost” of government construction and ownership is 25% of the total cost of the unit, while 40% of private development shows that investors need to pay a plunge profit, among other things.
Those who criticize Municipal Public Housing will give us smoked herring about past “housing projects” and public housing politics. Unlike past public housing projects,Designed to fail “and” designed to be isolated “, ”Social housing builds mixed-use, integrated, high-income housing designed for quality and affordability.And high-quality, affordable city government subsidized housing Voter support The entire political spectrum.
At this all-out moment, there is an important role the government should play in building the housing we need. Cities like Singapore and Vienna have invested in social housing that offers amazing results at affordable prices.Now the city Scotland, new Zealand, Finland, and even University of California, Participating in the new promotion of Municipal Housing. San Diego needs to participate in them.
Building public assets by pooling together along community college parking lots, city buildings, and transit routes has become one of the largest investments in affordable housing in US history. Become. With the failure of the current system, it’s time to create a public option for San Diego housing.
Joel Day teaches global public policy at the University of California, San Diego. He lives in Claremont candidate For the San Diego City Council in 2022.
Opinion: San Diego’s Sky-High Housing Costs Show the Need for a Public Option Source link Opinion: San Diego’s Sky-High Housing Costs Show the Need for a Public Option