A $450 million bond referendum will come before San Jose voters this November. Mayor Sam Liccardo promises it is "a necessary but not sufficient tool" to provide stable housing at an epicenter of the housing crisis.
Following the 2016 approval of a $950 million bond to address the housing crisis in Santa Clara County, the voters of San Jose will be asked to approve another $450 million this year. The bond will direct money "to affordable housing production and preservation at three different income levels, promising to create up to 3,550 units of new affordable housing in the city," Jared Brey writes.
San Jose's mayor Sam Liccardo characterizes the bond as "a necessary but not sufficient tool" to deal with the city's severe lack of affordable housing options. "Last October, Liccardo released a 15-point housing plan with the goal of creating 25,000 new homes in San Jose over the next five years, of which 10,000 would be affordable units." The bond is estimated to cost San Jose property owners 8 cents per $1,000 of assessed value, and will require approval by two thirds of voters.
The city is also working to create a separate fund to attract low-return, safe investments in housing for the middle class, a so-called "missing middle" fund. Such an instrument would pair private and philanthropic investment with a small subsidy from the city, but so far no outside money has been committed.
Read the full story: The ‘Capital of Silicon Valley’ Wants to Borrow $450 Million for Housing
California's Housing Crisis—No End in Sight
This past year looked promising in terms of opportunities to tackle the state’s housing woes. But most measures failed and the problem is just growing.
California Getting Way More New Jobs Than New Housing
Even with tons of building permits already issued this year, the outlook for the state’s affordability crisis is pretty grim.
A Proposal to Plan Regionally in the Silicon Valley
Could development fights in the home of the biggest tech companies be avoided if cities just talked to each other?
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Chicago breaks ground on $3 billion megadevelopment
The new neighborhood, titled Foundry Park, will one day host 3,700 residences.
Satanic Place Names
From streams and lakes to valleys and canyons, I mapped more than 1,000 places named after the Devil.
California High-Speed Rail Authority CEO resigns after $600,000 scandal
Under Ian Choudri, the authority used taxpayer dollars to fund first class flights and trips to nightclubs.
Want to study the Missouri River? Soon, you may need unanimous approval from 10 states
Legislation would require 10 governors’ permission to study or build projects moving water outside the basin.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority