Thank you Governor Gavin Newsom and the CA State Legislature for confronting the state’s housing and homelessness crisis head on – starting with 2021’s California Comeback Plan which included $12B to help tens of thousands of people off the streets and invest in our permanent affordable housing infrastructure. Part of this historic investment was $1.75B for the California Housing Accelerator, which fast tracks stalled housing projects that are not just entitled, but shovel ready.
Why does this matter? Deeply affordable homes have hit a roadblock. They don’t have enough funding to begin construction.
How does this help? We know housing solutions work when they are funded. The California Housing Accelerator will fund 90 shovel-ready projects, creating more than 7,000 affordable homes.
In early 2022, MidPen was awarded funds to begin construction on two developments: Foon Lok East in Oakland and Mahonia Glen in Santa Rosa. And true to its name, the accelerator is accelerating impact – we’re putting shovels to the ground and beginning construction in just a few short months!
These investments work. We’re calling upon Governor Gavin Newsom and the CA State Legislature to build upon this success with an additional $5 billion in 2022 for the California Housing Accelerator and/or the State’s Multifamily Housing Program. Help us create housing for those who need it most.