California Releases Affordable Housing Development Cost Study
A study measuring the factors that influence the cost of building affordable rental housing in California was released today by the California Department of Housing and Community Development, the California Tax Credit Allocation Committee, the California Housing Finance Agency and the California Debt Limit Allocation Committee. Affordable Housing Cost Study: Analysis of the Factors that Influence the Cost of Building Multi-Family Affordable Housing in California found that the factors influencing costs are multifaceted, with no single factor explaining all or even most of the cost of developing affordable housing. As such, the authors conclude that any approach to lowering costs must look across multiple factors, rather than focusing on a single issue.
Tune into the Oct. 21 Tax Credit Tuesday podcast to learn more about the report and what it means for the affordable housing community in California.