Co-presented by: SV@Home and Silicon Valley Leadership Group
Meeting Space and Food Sponsorship Provided By: Texas Instruments
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, including the component costs of market-rate and affordable development, the impact of various local government policies on housing prices, and creative solutions and policies. It is important to understand not just the cost of development, but how fees, policies and zoning requirements can raise the cost of providing housing.
On September 12th we will learn more about what it takes to finance affordable housing in the region. Local representatives from the local government, developer, and finance communities will provide more information about what goes into producing affordable housing developments. Please join us for the discussion!
Kristin Clements, Division Manager, City of San Jose Housing Policy Team
Andy Madeira, Senior Vice President – Real Estate Development, Eden Housing
Fiona Hsu, Manager, Community Development Finance, Silicon Valley Bank