Co-presented by: SV@Home and the Terner Center
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.
This luncheon forum series will dive into the cost of building housing—market rate and affordable—and the role that retail and parking requirements play in allowing or preventing new mixed-use or residential developments to move forward. This session is intended to be a primer about housing finance. Come and learn about what it takes to develop a market rate housing project and see it through to completion.
On October 11 we will learn more about what it takes to finance market rate housing in the region. The Terner Center will walk through an example of a prototype project and the costs involved, followed by a discussion with representatives from the local government, developer, and finance communities who will provide more information about what goes into producing market rate housing developments. Please join us for the discussion!
Jonathan Fearn, Greystar, Senior Director Development