February 27, 2020 Comments Off on Newport Beach Earmarks $3M for Affordable Housing Partner Search Views: 435 California News, Orange County

Newport Beach Earmarks $3M for Affordable Housing Partner Search

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The City of Newport Beach has approved a $3-million allocation to identify a private development partner for a permanent supportive housing project, which could feature up to 50 units paired to social services. The location is yet to be determined.

Newport Beach has been challenged to meet State mandates for the development of affordable housing, since typically affordable housing development projects by local governments are supported by land contributions, and land in the coastal city is at a premium. So, with no parcel to give, Newport Beach will offer the funding instead.

The council’s 6-0 vote didn’t approve any specific project or release funds. However, the city can now draw up to $3 million from funds set aside for affordable housing and a temporary shelter. The selected developer would be responsible for the balance of any selected project. Senior housing is a priority.

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