Hollywood Palms Affordable Housing

The City of San Diego's goal is to provide sufficient affordable housing opportunities for San Diego residents. This is a challenging goal requiring a comprehensive and coordinated approach. San Diego's overall housing goals are based on State Redevelopment Law, the City of San Diego Housing Element of the Progress Guide and General Plan for FY 1999-2004, and the City of San Diego Consolidated Plan for FY 2001-2005. State redevelopment law requires the allocation of 20 percent of all annual redevelopment tax increment funds be used to create low- and moderate-income housing and that 15 percent of all units built within all redevelopment areas must be affordable. In addition to these state requirements, the City of San Diego has developed the following goals:

Provide Housing for All Income Groups

• Implement pilot "living unit" projects (small studio apartments) as a source of low-income housing for individuals and couples.
• Add approximately 470 affordable housing units during Fiscal Years 2001-2005, of which, approximately 310 will be affordable to low-income households.
• Identify areas of change that will result in an increase to the City's affordable housing stock.

Preserve Existing Affordable Housing

Torrey del Mar Affordable Housing

• Preserve "at-risk" housing units; plan for the prevention or minimization of low-income household displacement, and preserve the local affordable housing stock.
• Secure funds to replace the nearly 400 single room occupancy units planned for demolition because of the expansion of the federal courthouse.

Increase Affordable Housing Opportunities for Renters and Homebuyers

• Provide housing assistance to approximately 7,500 new households for Fiscal Years 2001-2005. Approximately 1,500 additional households will be assisted each year.
• Increase the supply of affordable rental housing through acquisition and rehabilitation of existing housing units and the construction of new units.
• Continue to increase homeownership opportunities by capitalizing on the high percentage of homeowners and long-term residents in southeastern San Diego.
• Focus on the development of multi-family housing, principally in the Central Imperial Redevelopment Project Area.

Ensure Redevelopment Funds for Affordable Housing

• Assist in the construction of new affordable housing units citywide using redevelopment affordable housing funds to leverage other resources and close project financing gaps. The first priority is family housing with emphasis on units for low and very low income levels.
• Work with developers to build low-cost condominiums on specific downtown sites.
• Assist developers with financing to construct downtown rental units with emphasis on increasing the number of one- and two-bedroom units for 2-4 person households.