Want more affordable housing? Expert: make projects profitable

In January 2019, Palo Alto City Council approved its first affordable housing project in seven years, at 3703-3709 El Camino Real in Palo Alto. No other affordable projects have been approved since then. Illustration by Pyatok Architects.
Daily Post Correspondent

If the city of Palo Alto wants to increase the percentage of affordable units required in new housing projects, it should look at reducing its requirements for parking spaces and retail space in those developments, a consultant said.

Without those changes, for-sale multi-family housing projects with 20% below-market-rate units would not be profitable enough to entice developers to build them, according to the consultant, Berkeley-based Strategic Economics.

Even multi-family projects …


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1 Comment

  1. I get the discussions about affordable housing and businesses need to flourish, but I haven’t seen this discussed … where are we going to get all the water needed for those new people and businesses? I have lived through 3 major droughts and each one was equal to or worse than the one before. Water is essential for life, not buildings. We can have water contracts out of state etc, but with global warming they may need the water too and then where are we? We are constantly battling So Cal about shipping water to them. Will we be squeezed out with extra people?
    Quit the greed and come up with a better way of helping the people already here. I realize that the developers have already made deals with the city and major money is at play, but go back to the basics people, it’s all about the water.

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