According to the Public Policy Institute of California, a non-profit, non-partisan think tank, California is facing a jaw-dropping 3.5 million unit housing deficient for the current population. This despite several legislative sessions enacting a large number of bills aimed at boosting housing production. 2023 was no different. During its first year of the current 2-year legislative cycle, Governor Newsom signed an unprecedented 56 housing bills into law, reflecting the California Legislature’s continued effort to respond to the housing crisis, and the multi-dimensional approach to developing, retaining, and permitting housing options for Californians. In sum, the housing bills intend to incentivize and reduce barriers to housing production, especially “affordable” or below-market rate housing by addressing previously-identified hurdles in the market. To do so, some bills include further expansion of State Density Bonus Law, including Senate Bill (SB) 423’s extension of the sunset date in 2017’s SB 35. The package also includes bills aimed to keep tenants in their existing homes and reflects the state’s desire to limit local governments’ ability to deny housing projects.
Click here to read more.