In March, San Diego residents will have the opportunity to voteon the future of affordable housing development Newland Sierra. Theproject includes a deed-restriction that requires the projectinclude 60% affordably priced units. The covenant is unique andlegally binding, meaning that if passed, Measure B will be aguarantee of new affordable housing.
"Measure B will provide affordably-pricedhousing options for working families in San Diego County, allguaranteed through a legally binding covenant recorded as arestriction on the deed of the property," RitaBrandin, SVP and development director ofNewland, tells GlobeSt.com. "This legallyenforceable covenant guarantees that 60% of the new homes will bepriced affordably for working families and seniors and that 10% ofthose homes will be affordably priced rentals for low and verylow-income families."
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