By Murtaza Baxamusa / UrbDeZine
Having invested a billion and a half dollars of public funds in downtown redevelopment, it is worth asking if it helped or hindered in solving the affordable housing crisis that San Diego faces. From the catalytic start of downtown’s boom with the construction of the ballpark to the unceremonious demise of tax increment financing under Governor Brown, there has been a lot of change.
Census data shows that from 2000 to 2015, downtown’s housing stock doubled. About half of downtown’s current stock of 25 thousand housing units has been built during this time frame. About 5 thousand renter-occupied housing units were added to the stock. Of the total housing stock almost 18 percent (over 4 thousand units) are vacant, compared to 9 percent vacancy back in 2000. This indicates a greater share of investor-owned units or second homes that are not occupied. [Read more…]