Can Pasadena, Burbank and Glendale band together to create an affordable housing fund to build homes people can actually afford? A local legislator thinks so.
A bill that taps $23 million to get a trust fund going to boost affordable housing in Pasadena, Glendale and Burbank has been approved by the state Legislature and is headed to the governor’s desk for his signature.
A skyrocketing housing market — coupled with rising interests and still relatively short supply of inventory — has put the dream of a home out of reach for many Southern Californians, despite recent dips in some markets. And rents are spiking upward in what is said to be the tightest market in two decades.While vacancies eased slightly in the spring quarter, availability rates remain among the lowest in data dating to the year 2000.
“This is a huge step toward adding affordable housing in our community,” stated Burbank Mayor Jess Talamantes in the statement. “We are grateful to Senator Portantino for sponsoring this bill.”“Housing is a regional issue and cities working together in partnership, together with the state is the best strategy to constructing more affordable housing for our communities,” he said. “We are stronger when we work together.
Several state officials have argued that strict city zoning laws on development are a big reason why rents and housing costs are so high. Moreover, cities across Southern California — including in this tri-city region — have been found to be falling short of state-mandated housing goals, despite robust pushes to create more housing, according to data from the state.
Still, such efforts run parallel to the tensions inherent in creating more affordable places for people to live in a built-out region.
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