Changes to the city’s policy will now require affordable units to remain affordable for at least 55 years and would last through the entire life of the project instead of being phased out. The same would apply to units that are created under the city’s no-net-loss provision, which requires developers to replace affordable housing demolished to build new units at a one-to-one ratio.
Preliminary approval was granted by the City Council Tuesday night, but more changes are expected in the coming months that could affect the duration of affordability and how much developers pay to avoid building affordable units.
The adopted policy will set aside 11% of new rental units for very-low income households and 10% of new ownership units for moderate income households.
The inclusionary housing ordinance could require set percentages of new construction project to be affordable housing units. Housing advocates say the majority of those units should be set aside for very-low income households.
The Long Beach Planning Commission on Thursday discussed recommendations for a future inclusionary housing ordinance—which could mandate that developers contribute to the city’s affordable housing stock.