Housing Unit Reductions: The impact of the builder’s remedy is becoming apparent in San Jose as a major project is set to reduce its housing units significantly. One of the earliest projects to be revised under the builder’s remedy is the San Jose Flea Market site, which originally planned for nearly 3,500 residential units. The new plan scales it down to 940 units as part of a transit-oriented development near the BART station.
San Jose’s failure to create a state-approved housing plan has left it vulnerable to state intervention, which could force the approval of housing projects that don’t align with the city’s general plan, known as the builder’s remedy.
Councilmember David Cohen expressed concerns about the changes, stating they undermine the original plan to create a high-density urban environment near the BART station. He stressed the importance of this site for fulfilling the Urban Village vision.
Erik Schoennauer, a consultant representing the flea market landowners, highlighted the agreement with flea market vendors, ensuring their financial support during the transition. He explained that economic factors and changes in demand for office space have led to the project’s revision. The new plan maintains the focus on urban mixed-use development near the BART station.
San Jose has missed its housing deadlines, further emphasizing the need for housing projects. The builder’s remedy, while limiting council discretion, has led to a reduction in housing units across the city.
Bob Staedler, a principal at Silicon Valley Synergy, suggested that while the city cannot outright reject such projects, it can make the development process more challenging through various means.
The situation highlights the complexities and challenges San Jose faces in balancing housing demands, economic conditions, and urban development goals.
ALSO READ: San Jose Real Estate Market: A Look at Recent Property Transactions
Our Reader’s Queries
What is the affordable housing deficit in the US?
Across the country, there is a significant shortage of over 7 million affordable homes for the 10.8 million plus extremely low-income families in our nation. This gap is evident in every state and county, as even a renter working full-time at minimum wage cannot afford a two-bedroom apartment. The Out of Reach Map highlights this issue, emphasizing the dire need for affordable housing solutions.
How many affordable housing units does California need?
California is in dire need of over a million affordable housing units. Shockingly, more than 300,000 NOAH units and 30,000 subsidized units are at risk of being lost. This is a concerning situation that requires immediate attention.
What is the affordable housing policy in the United States?
The government offers over a dozen programs to help make rental housing more affordable. These programs include rental assistance payments, grants, loan guarantees, and tax incentives. One such program is the Housing Choice Voucher from the Department of Housing and Urban Development (HUD).
What is the housing gap in the US?
In the United States, there is a significant lack of affordable rental homes for those with extremely low incomes. This shortage amounts to 7.3 million homes, which are either unavailable or unaffordable for individuals whose income falls at or below the federal poverty guideline or 30% of their area median income, whichever is greater. This poses a significant challenge for those who are struggling to make ends meet and highlights the need for more accessible and affordable housing options.