THROUGHOUT CALIFORNIA, MANY HOUSHOLDS ARE STRUGGLING TO AFFORD RENT
Throughout California, many households are struggling to afford rent. Due to a decrease in incomes, and rental rates skyrocketing across the country, some households simply aren’t making enough to keep up. According to the federal government, if a tenant pays 30% or less of their income towards rent, it is considered affordable. Otherwise, it is deemed a rent burden, an issue that especially affects low to moderate income households. As the median family income for San Joaquin County is $74,000 – a decrease of $1,000 from 2020 – this means that rents are out of reach for the most financially insecure families.
The Housing Authority County of San Joaquin (HACSJ) is continually strategizing to make affordable housing available, both now and in the future, through the Project Based Voucher Program (PBV) program. A component of the Housing Choice Voucher Program, PBVs provide rental assistance for eligible individuals and families occupying specific units that are managed by private owners who have agreements with the housing authority. PBV assistance is attached to the housing units, while HACSJ manages the waiting list.
In June 2021, a request for proposals allowed HACSJ to make 100 PBVs available to existing residential units, making them affordable to the current households. Local landlords competed for these vouchers, and awards were made to Casa Manana Apartments (Domus Development), Dewey Apartments and Grant Village Apartments (Visionary Homebuilders), and Cal Weber 40 Apartments (DFA Development). There are now 19 properties in San Joaquin County with PBVs, totaling 696 affordable housing rental units.
“The residents at Cal Weber 40 Apartments represent the community of Downtown Stockton,” stated Christopher Flaherty, Co-Managing partner of DFA Development. “And their ability to afford a wonderful place to live is provided by the Housing Authority of San Joaquin’s support through its Project Based Voucher progam.”
“The Project Based Vouchers that the San Joaquin County Housing Authority recently awarded to Casa Manana Inn, which are in addition to a previous award received five years ago, not only provides added affordability to current and future residents, they also ensure the operating stability of the property that has served the community for over 55 years,” said Maurice Ramirez, President of Domus Development. “They allow us to keep and further our mission to provide deeply affordable rents for our senior residents.”
Future PBV opportunities will be published on www.publicpurchase.com as well as in the local newspapers.
