Real Estate/Development,
Land Use,
Government
Apr. 9, 2021
Density bonus law could spur development boom, lawyers say
To qualify for the new bonus, at least 15 percent of a development's residential units must be set aside for very low-income households, 24 percent for lower-income households, or 44 percent for moderate-income households.
Until recently, California developers didn't have much reason to include affordable housing as part of their multifamily projects since they could just pay an in-lieu fee instead.
Now, however, they have a real incentive to build affordable units after the Legislature passed a law allowing builders to add 50 percent more units than the zoning allows if they include apartments for low-income residents.
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