- For over four decades, Santa Monica residents and voters have supported the preservation and production of affordable housing as a core local value. As market pressures and changes in state law have affected the affordability of housing in Santa Monica, the community has continued to identify the urgency and need. Reflecting community sentiment, in 2015, Council identified “Maintaining an Inclusive and Diverse Community” as one of its strategic goals, and in 2019 Council identified “Affordability” as a Framework Priority. Creating more affordable housing is a key element to maintaining economic diversity and affordability in Santa Monica.
- The great need for affordable housing is accompanied by the reality that producing affordable housing can be very expensive. A major driver of the expense is the cost of land. Using City-owned land for the creation of affordable housing presents an opportunity to significantly reduce the City’s costs associated with financing housing production and thereby increase the number of households that can be assisted.
- On January 11, 2022, City Council selected EAH, Inc and authorized the City Manager to negotiate and execute an exclusive negotiation agreement with EAH, Inc. to negotiate the terms and conditions for development of a mixed-use, affordable housing on the City-owned parcel at 1318-20 Fourth Street. Once the exclusive negotiation agreement is executed, the development team will undertake a community outreach process regarding proposed development plans. At a later date, City Council will consider a long-term ground lease of the City-owned land.
- The Parking Structure #3 site is located within the Bayside Conservation District of the Downtown Community Plan, which allows for affordable housing up to 70 feet in height with a maximum floor-to-area ratio of 4.0. Using simple floor-area-ratio calculations, City staff projects that the site could accommodate approximately 100 to 150 affordable residences, depending on the design and target population(s). The street-facing ground floor could house non-residential uses that help activate the sidewalk and contribute to the sense of safety in the area. Groundfloor space could also house activities and uses that support the Downtown and the larger community, but have otherwise been priced out of commercial storefronts Downtown.
- The development should seek to meet the following objectives:
- All residences in the proposed development must be subject to long-term income eligibility and affordability covenants. All residents of the affordable housing must be referred from a City-maintained list of prospective tenants.
- The affordable housing must include a significant commitment to permanent supportive housing for people experiencing homelessness. Affordable housing that targets other populations may be included, such as senior housing, artist live/work housing, and housing for working families and individuals.
- The development should maximize affordable housing and the cost-effectiveness of producing affordable housing and minimize City Housing Trust Fund investment.
- Learn more about the City’s Affordable Housing Programs here.