Housing Update at SCWorks New Tech
The housing crisis in California has caused significant and rapid changes to communities, leading to poverty, homelessness, environmental impacts, and wealth disparity. Decades of under-production of new housing has resulted in a projected shortage of 3.5 million units by 2025.
Consequently, our monthly New Tech event will kick off with presentations from Monterey Bay Economic Partnership (“MBEP”)and New Way Homes.
Snapshot
Presenters include Gabriel Sanders / MBEP, Tahra Goraya / MBEP, and Sibley Simon / New Way Homes. In the short 15 minutes allotted, presenters will cover:
Regional housing perspective, how housing development interacts with workforce and economic development
Specific situation update in Santa Cruz: RHNA allocation and Housing Element effects
Policies that can increase development opportunities and improve people's lives
Specific projects in the pipeline, including supportive housing
Hopeful prospects for the future resulting from collaboration across sectors/industries
Challenges unique to Santa Cruz; opportunities and a realistic view going forward
Looking Backward
Santa Cruz County, like many areas in California, is facing a housing affordability crisis. The high cost of living, limited housing stock, and strong demand have made it difficult for many people to find affordable housing.
According to a report by the Santa Cruz County Planning Department, there is a shortage of affordable housing in the county. In 2021, the average monthly rent for a two-bedroom apartment in Santa Cruz was around $2,800, which is well above the national average. The median home price in the county was around $1.1 million, making it difficult for many residents to afford homeownership.
To address this issue, Santa Cruz County has implemented various programs and initiatives to increase the supply of affordable housing. For example, the county has a housing trust fund that provides financial assistance to developers and non-profit organizations to build affordable housing units. Additionally, the county has implemented inclusionary zoning policies, which require developers to include a certain percentage of affordable housing units in new developments.
Looking Forward
Of all coastal cities in California, Santa Cruz County has made the most progress to provide affordable housing. Join us on Wednesday, April 5, 2023 to learn how much we have accomplished, and how far we still have to go.
Get your ticket. The first 100 registrants get free valet parking.
Interested in Volunteering?
If you would like to help with check in, setup, or teardown, please contact malina[at]santacruzworks.org