A new $100 million financing partnership that aims to bring more affordable apartments built faster for working households broke ground Tuesday.
In North Park, project leaders started on 38 affordable units on Louisiana Street. It is the first of four projects expected to bring hundreds of homes to North Park and Normal Heights.
The public-private partnership between the city of San Diego, developer Naturally Affordable Housing, Bear Creek Asset Management and nonprofit San Diego Foundation is moving forward with a plan to provide studio apartments for households earning up to 80% of the area median income.
At the groundbreaking, Gloria said the projects are intended to help workers such as nurses, teachers and first responders live in the communities they serve.
“Today is a message to say very clearly, we’re doing everything we can to make sure you can stay in the city that you love,” said Gloria.
For a single-person household in North Park, county data cited in the report shows an annual income of about $97,000 at the area median income level.
“This news that we have a property owner that’s willing to redevelop the property and private finance that’s willing to pay for the construction. All these things coming together is how you solve a housing crisis,” said Gloria.
The projects are not expected to solve San Diego’s housing crisis overnight. Gloria said the effort is intended to set a trend for projects that can move through red tape faster.
Construction continues as concerns about growth and parking remain among some longtime North Park residents.
John Bannister said he supports building more housing but has questions about how new developments will affect parking.
“120 units in one block with no parking? Where are they going to go? ” said Bannister. “The problem is when they put up the housing, they need to realize not everyone is going to be taking the bus.”
Gloria said the city has invested in public transit, bike lanes, angled parking and parking structures in the area.
“What I know for sure is the end product normally improves the neighborhood, but the city is not unaware of that,” said Gloria.
The planned studios will measure about 375 square feet and are expected to rent for around $2,100 a month.
The first residents are expected to move in at the end of 2027, if the project stays on schedule. Updated community plans, housing incentives and fast-track programs helped bring the project together.
This story was originally reported for broadcast by NBC San Diego. AI tools helped convert the story to a digital article, and an NBC San Diego journalist edited the article for publication.