San Diego announced a plan last week to sell or lease five city blocks in its Civic Center. It comes with many stipulations.
in its Civic Center area that aims to create more housing, much of it for low-income residents.
The city will solicit bids according to the Surplus Land Act, which mandates that local agencies prioritize the production of housing for low-income families when offloading their land. At a minimum, development teams are required to set aside at least 25 percent of proposed residential units for low-income families, or those making 80 percent or less of the area median income.
Without specifying an exact amount, City Council said the bids must include residential units deed-restricted for people making 30 percent or less of the area median income.Other stipulations: Strong labor agreements, mobility options, middle-income units, and more. One city council member, despite approving the plan, openly questioned if the plan would be financially feasible with so many restrictions.
There will be proposals, but none that satisfy the aspirations of the city that include a theater and all the affordable housing required by the state. Given local median incomes, rents could not exceed $2,140 a month, and that means the other units need to be well above market to be feasible in this perversely regulated market. To rebuild a civic theater would be fantastic, but negate the ability to provide all that below-market housing.
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