San Diego Mayor Announces New Funds for Affordable Housing

As part of an ongoing plan to address San Diego’s housing challenges, particularly its homeless crisis, Mayor Kevin Faulconer has announced that up to $50 million will be available to developers for projects that create or preserve affordable units. This pool of funds, which will be administered by the city’s Housing Commission, includes $20 million for permanent supportive housing, $20 million for affordable rental units for low-income households and $10 million to rehabilitate affordable rental units or extend their affordability. The plan also includes 525 housing vouchers for people experiencing homelessness, and 25 units set aside specifically for veterans experiencing homelessness. Since 2008, partnerships between the Housing Commission and developers have created 4,136 affordable rental homes and rehabilitated 3,509 more.

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