California State Legislature Passes Transit-Oriented Development and Affordable Student Housing Bills

The California legislature has advanced two affordable housing bills to Governor Jerry Brown’s desk for final approvals. AB 2923 would allow for more density near BART transit stations by speeding up the approval process and allowing transit-owned property within a certain radius of transit stations to be zoned for housing. Affordability requirements in the bill would require such developments to set aside at least 20 percent of new units as affordable. SB 1227 aims to increase affordable student housing by offering developers of 100 percent student housing a density bonus, provided that 20 percent of the units are used for lower-income students. The existing Density Bonus Law allows housing developers who provide affordable units to build up to 35 percent more units than local zoning laws permit, and SB 1227 would allow developers of student housing to also benefit from this density bonus. The governor has until the end of September to sign each bill.

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