Calling all San Francisco East Bay residents, particularly those looking for new housing options! There’s been a significant development in the ongoing issue of housing affordability in California, specifically involving the city of Fullerton. As your trusted property management experts at SLPM Property Management, we’re here to break down the news and explain how it could impact the East Bay market.
Fullerton Agrees to Increase Housing Stock, Including Affordable Options:
In a recent agreement with the state of California, Fullerton has committed to tackling its housing shortage head-on. This means good news for both potential renters and buyers in the East Bay, as it could create a more diverse and accessible housing landscape in the near future.
Key Points of the Agreement:
- Increased Housing Units: Fullerton will work towards developing 13,209 new housing units, with a focus on affordability. Over 5,187 of these units will be allocated for low- or very low-income residents, making housing more attainable for a wider range of individuals and families.
- Expedited Timeline: While the housing element planning process can be lengthy, Fullerton has agreed to an accelerated timeline to ensure quicker progress. This means we can expect to see concrete results sooner rather than later.
- Zoning Code Modernization: Fullerton will update its zoning code to facilitate the construction of these new housing units, removing roadblocks that previously hindered development.
- Focus on Fairness: The agreement emphasizes adherence to the Affirmatively Furthering Fair Housing (AFFH) statute, promoting inclusive communities and removing barriers based on protected characteristics.
What This Means for the East Bay:
This landmark agreement is a positive step towards increasing housing availability and affordability in the East Bay. With more housing options in Fullerton, potential residents may have additional choices when searching for a new home, potentially easing pressure on other East Bay markets. Additionally, the focus on affordable housing could create more opportunities for low- and moderate-income families to find suitable options within the region.
Stay Informed with SLPM Property Management:
As your local property management experts, we at SLPM Property Management are committed to keeping you informed about all things housing in the East Bay. We’ll continue to monitor the situation in Fullerton and provide updates as they become available. If you’re looking for a new home or considering renting out your property, we’re here to guide you through the process and help you navigate the ever-changing East Bay housing market.
Remember: This is just the beginning of a longer process. While the agreement lays out a clear path forward, it’s important to stay informed and monitor the progress as Fullerton implements its new housing plan. We’ll be here to keep you updated every step of the way!