June 26, 2026

$11.25 Billion for Affordable Homes is Headed Toward the Ballot!

Share:

A major update for housing this week! California just took a major step forward for affordable housing development in the state. While we still have a lot of work to do, we want to take this moment to celebrate.

Governor Newsom, Senate President pro Tempore Monique Limón, and Assembly Speaker Robert Rivas reached an agreement to place the Veterans and Affordable Housing Bond Act of 2026 before voters this November. The measure represents $11.25 billion to build, preserve, and rehabilitate affordable homes and to open the door to homeownership for families who have been priced out for too long.

For the communities we serve in Santa Clara County and across the state, this is the kind of investment that changes lives. The bond would:

  • Help more than 40,000 Californians become homeowners through down payment assistance and affordable mortgage financing
  • Build and preserve tens of thousands of affordable homes for lower-income families, seniors, farmworkers, veterans, and people at risk of homelessness
  • Keep those homes affordable for at least 55 years, so the benefit reaches the next generation
  • Direct $1.25 billion to the CalVet Home Loan Program to help veterans and military families buy homes, repaid through mortgage payments rather than taxpayer dollars

Every state dollar in the bond is expected to leverage roughly four more in federal tax credits, local funding, and private investment, stretching the impact even further.

We have seen what this kind of commitment can do close to home. Santa Clara County’s Measure A funded thousands of affordable and supportive homes and exceeded its original goals. A statewide investment of this scale can carry that progress forward for communities everywhere.

The Legislature is expected to take final action in the coming days. Once it passes and is signed, the measure heads to the November 2026 ballot, where the decision rests with voters.

View the full press release from Governor Newsom here.

Today, we celebrate. Stay tuned for more ways to engage in this effort as we approach November.