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Contact: Bernadette Cruz

Sr. Marketing & Membership Manager

# 831.915.2806; bcruz@mbep.biz

FOR IMMEDIATE RELEASE

January 11, 2018

Monterey Bay Economic Partnership and Envision Housing Showcase What Realistic

Policy Changes Could Improve Housing Affordability in the Monterey Bay Region

Marina, CA — Monterey Bay Economic Partnership (MBEP) with Envision Housing announced its latest effort to positively affect local housing affordability based on proven policy changes in other locations with highly constrained housing markets. This White Paper initiates a call-to-action to local jurisdictions to examine, discuss, and consider policy changes that will increase housing affordability throughout our region. In alignment with MBEP’s vision of a thriving region for all residents, it seeks to provide the framework to improve local housing-related policies.

The White Paper examines five “alterable drivers”: overall housing supply, mix of housing types, affordable housing production, cost of production, and risk of production. With examples from a UC Berkeley study by Karen Chapple and Miriam Zuk, and well-documented efforts in San Francisco and San Diego, the White Paper then goes on to identify nine of the most promising policy change recommendations applicable to our region.

With no more time to admire the problem, MBEP and Envision Housing plan to present these recommendations to 17 jurisdictions throughout the Monterey Bay Region in coming months. The goal is to encourage more regional discussions and spark continued advocacy and coordination of improved housing solutions. They believe an ongoing approach to rapid policy change can have successful outcomes and these solutions will require high-priority commitments. The hope is that each jurisdiction will work towards carefully adapting and applying these policies and also measure the collective progress of total housing production, production of rental housing, production of affordable housing, displacement and overcrowding, and measure of affordability, including median rent/price, burden relative to income.

Envision Housing’s Sibley Simon adds that, “Other regions are showing that ambitious but realistic local policy work can turn the tide on housing affordability for all residents.  We hope that this paper helps inform current efforts in the region’s local jurisdictions and is the starting point for more rapid, new change as well.”

“Given all the amazing momentum at the state level and abundance of information about best practices on zoning rules and fees, we believe adopting these types of policy changes can have successful outcomes in our housing market,” says MBEP Housing Program Manager Matt Huerta.

About MBEP. The Monterey Bay Economic Partnership (MBEP) is a regional nonprofit, membership organization consisting of public, private and civic entities located throughout the counties of Monterey, San Benito and Santa Cruz. MBEP’s mission is to improve the economic health and quality of life in the region. Visit www.mbep.biz for more information.

About Envision Housing. Envision Housing is a mission-driven, multifamily housing developer seeking to create a new supply of less expensive rental housing in the Monterey Bay Region.  We see this as essential to the long-term viability and diversity of our communities. Envision Housing is particularly passionate about creating workforce housing, affordable housing, and housing for all those struggling to afford it in our region today. Visit  http://envisionhousing.us/ for more information.

 

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