The pandemic exacerbated California’s housing affordability crisis. From March 2020 to March 2021, housing prices increased 24% in the state, forcing legislators to take action. Now, the state has proposed three new housing bills to help combat the rampant housing affordability crisis. If passed, SB 6, AB 115, and SB 15 will drive housing development in the state.

Also known as the Neighborhood Homes Act, SB 6 would allow residential development in commercial and residential-zoned areas, as long as the project is not adjacent to an industrial use. According to Joe DiStefano, CEO of UrbanFootprint, the bill would “increase market-feasible capacity by as many as 2 million new homes.” If this came to fruition, the net fiscal benefit to the state’s jurisdictions could be $6 billion in annual revenues, adds DiStefano.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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