ACTION Apartment Association - Santa Monica Sees Lowest Affordable Housing Production in More Than a Decade

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Santa Monica Sees Lowest Affordable Housing Production in More Than a Decade

Santa Monica Sees Lowest Affordable Housing Production in More Than a Decade

05/14/2019 7:51 AM | Margaret Fulton (Administrator)

Santa Monica added two affordable housing units during the past fiscal year, making it the fewest affordable multi-family residences built in the city in more than a decade, according to a report released Thursday.

That represents 4 percent of the 46 total units built in the city in Fiscal Year 2017/18, according to the Affordable Housing Progress Report. The last time so few units were built was two in Fiscal Year 2005/06.

Still, over the past 24 years, the City has cumulatively met the requirement set by local voters in 1990 under Proposition R that 30 percent of new multifamily housing be affordable to low- and moderate-income households.

AND: https://www.smdp.com/only-46-apartments-were-built-in-santa-monica-last-fiscal-year-and-just-two-of-those-were-affordable/175497