Co-presented by: SV@Home and SPUR
We know that housing is unaffordable, with a six-figure income required in order to afford an average rental apartment in Santa Clara County and a more than $250,000 income required to purchase the median-priced home. Certainly some of the reason for the cost is basic supply and demand—we are not building sufficient housing to meet the demand for the many jobs being added, or to meet the natural increase in family formation. The other critical factor is simply the cost of building in this high cost area, where land costs alone can exceed the median home price in other parts of the country.
The first two sessions in the series dove into the costs of building housing – market rate and affordable. We shift our focus towards specific mechanisms that influence the cost of housing development. This session is intended to be a primer about when retail is feasible.
On November 15th we will learn more about what it takes to incorporate retail into housing developments in the region. Representatives from the local government and developer communities will provide more information about the determining the feasibility of retail, and when it should be required. Please join us for the discussion!
Christina Briggs – Economic Development Director, City of Fremont
Bob Staedler – Principal, Silicon Valley Synergy