Join us for a Lunch and Learn on April 26 at 12:00, to hear about Circulate’s new report, Home Run for Homes.
The report details the success of San Diego’s Affordable Homes Bonus Program (AHBP). The AHBP builds upon California Density Bonus Law, and allows developers to build more homes if they agree to dedicate a portion of a new multi-family project as affordable. The AHBP became the basis for AB2345, which extended the enhanced bonus statewide. AB 2345 was authored by Former Assemblymember Lorena Gonzalez and co-sponsored by Circulate San Diego and Up for Growth. Read the full report here.
The report found that in the City of San Diego:
- 44 percent of homes entitled in 2020 were in developments that used the AHBP.
- Since the program began in 2016, the AHBP was used in projects creating 6,481 homes.
- Between 2016 and 2020, the AHBP was used to create 463 deed-restricted affordable homes in mixed-income projects, financed primarily without relying on public subsidy.
Be ready to get into the details, and bring your questions!