The State of California runs an estimated per capita shortage of 3.5M units. This is the source of a major problem that uniquely influences low and middle-income households. Currently, developers across the state build an additional 120,000 units per year, which means the per unit shortage is growing rather than shrinking!
THE CRISIS IS AFFECTING THE ENTIRE COMMUNITY
In addition to the dramatic rise of rents, businesses struggle more than ever to attract and retain employees, families move out of the region, traffic is worsening with longer commutes, and youth and retirees are unable to remain when transitioning to the next stages of their lives.
The lack of housing increases economic inequality and homelessness and decreases diversity.
THE SOLUTION IS THE RIGHT TYPE OF SUPPLY
The solution is within our reach; building several thousand units of lower-cost, high density, high quality units, mostly for rent, in downtowns and other central locations. Building housing near jobs for those who already live and work here is achievable and essential for our community’s future.
New Way Homes is utilizing the following tools to stimulate the right kind of housing development