New Eco Friendly Family Homes in San Diego

BayVista’s mission statement has always been to leave a legacy for the next generation, we are pushing that mission into the modern age. Coming soon we are building eco-friendly family housing. We are making steps for a cleaner better future for affordable housing.

Here’s a first look at the models and stay tuned for more updates on this new project!

Model #2

32 Awesome CoWorking Space Statistics that will surprise you and Inspire you!

In 2019 Asia Pacific had the largest number of coworking spaces (11,592) followed by EMEA (6,850) Americas (6,293), then United Kingdom (5,923)

By 2022, China is forecasted to become one of the largest market for coworking spaces at 5,000 spaces.

India is forecasted to become one of the fastest growing markets for coworking spaces, buoyed by its large startup ecosystem

Globally, 70% of coworking spaces with at least 200 members are profitable

82% of respondents reported that coworking has expanded their professional networks

64% said their coworking networking was important sources of work and business referrals

On average co-workers interact with 1 to 4 members per day.

83% report that they are less lonely since joining a coworking space

79% said coworking has expanded their social networks

89% report that are happier since joining a coworking space

51% of co-workers strongly feel that they are part of a community while 31% somewhat feel the same way.

In terms of personality types that frequent coworking 30% identify themselves as extroverts, 22% as introverts, and the reminder as mixed (ambiverted).

According to ALLWORK when it comes to requested amenities in coworking spaces, physical and mental wellness take top prize

At 7.7 million square feet, Manhattan has by far that most coworking spaces, followed by Los Angeles with 3.7 million square feet.

In the US, the average monthly rate for coworking space is the highest in Washington D.C. at $843. The lowest is Huston at $220.

Decor Tips By: Cheryl Lee

People may think that living in a small space will limit a person in their decorating endeavors but, having a small space actually encourages you to think outside the box.

One way that you can decorate your space both large and small and make it look bigger are mirrors. Not just for fun houses mirrors create the illusion of more space and also help reflect light to make the space brighter.

You may be thinking… I can not afford a hundred dollar mirror, a beautiful mirror does not have to cost an arm and a leg to make your space more inviting here are five mirrors under fifty dollars.

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https://www.target.com/p/28-x-34-concert-beveled-glass-wall-mirror-with-silver-frame-alpine-art-and-mirror/-/A-16949208

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http://www.kirklands.com/product/Mirrors/All-Mirrors/Metal-Rope-Wall-Mirror/pc/2450/c/2306/171868.uts

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SDHC Partnership Developments Under or Pending Construction

Beacon Apartments

1435 C Street
San Diego, CA 92101

  • 43 affordable rental units serving individuals experiencing homelessness (up to 50% of AMI)
  • Expected completion: Summer 2019
  • Developer: Wakeland Housing and Development Corporation
  • Contact: 619-235-2296

The Stella (formerly Twain Veterans Housing)

4304 Twain Avenue
San Diego, CA 92120

  • 79 affordable rental units serving Veterans experiencing homelessness (up to 50% of AMI)
  • Expected completion: Summer 2019
  • Developer: Affirmed Housing Group
  • Contact: 858-679-2828

Encanto Village

6317-23, 6355, 6357 Imperial Avenue
San Diego, CA 92114

  • 65 affordable rental units serving low-income families and Veterans experiencing homelessness (up to 60% of AMI)
  • Expected completion: Spring 2019
  • Developer: National Community Renaissance (National CORE)
  • Contact: 909-483-2444 info@nationalcore.org

The Lofts at Normal Heights

3808 El Cajon Boulevard
San Diego, CA 92105

  • 52 affordable rental units serving Veterans experiencing homelessness (up to 50% of AMI)
  • Expected completion: Summer 2019
  • Developer: Chelsea Investment Corporation
  • Contact: 760-456-6000

Luna at Pacific Highlands Ranch

6025 Village Way
San Diego, CA 92130

  • 77 affordable rental units serving low-income families (up to 60% of AMI)
  • Expected completion: Winter 2018
  • Developer: Affirmed Housing Group
  • Contact: 800-801-8440 x7151

The Nook East Village

330 15th Street
San Diego CA 92101

  • 90 affordable studio units serving low-income individuals and Veterans experiencing homelessness (up to 80% of AMI)
  • Expected completion: March 2019
  • Developer: Trestle Development and National Housing Corporation
  • Contact: (619) 884-7348, www.nookeastvillage.com

Pacifica at Playa Del Sol

Ocean View Hills Parkway and Avenida Playa del Sol
San Diego, CA 92154

  • 41 affordable rental units (out of 42) serving low-income families (up to 60% of AMI), including 12 designated for households with family members who have developmental disabilities; One manager’s unit affordable to households with income up to 65% of AMI.
  • Expected completion: Summer 2019
  • Developer: Chelsea Investment Corporation
  • Contact: Southern California Housing Collaborative (858) 514-7015

Park and Market

Northwest Corner of Park Boulevard and Market Street
San Diego, CA 92101

  • 85 affordable rental units (out of 426 total units) serving low-income families (up to 50% of AMI)
  • Expected completion: 2020
  • Developer: Holland Construction
  • Contact: 360-694-7888

Paseo La Paz (formerly San Ysidro Transit Oriented Development)

  • 137 affordable rental units serving low-income families (up to 60% of AMI)
  • Expected completion: Summer 2019
  • Developer: Chelsea Investment Corporation
  • Contact: 760-456-6000

Bluewater (formerly Fairmount Family Housing)

6121 Fairmount Avenue
San Diego, CA 92120

  • 79 affordable rental units serving low-income families and Veterans experiencing homelessness (up to 60% of AMI)
  • Expected completion: Summer 2019
  • Developer: Affirmed Housing Group
  • Contact: 858-679-2828

Stylus Apartments (Formerly Civita II Family Apartments)

Russell Parkway and Friars Road
San Diego, CA 92108

  • 201 affordable rental units for families (50% to 60 % of AMI)
  • Expected completion: Summer 2020
  • Developer: Chelsea Investment Corporation
  • Contact: 760-456-6000

San Ysidro Village

517 West San Ysidro Boulevard
San Ysidro, CA 92173

  • 50 affordable rental units with supportive services for seniors experiencing homelessness (30% to 50 % of AMI)
  • Expected completion: Summer 2020
  • Developer: National CORE
  • Contact: 909-483-2444 info@nationalcore.org


Tackling California’s Affordable Housing Crisis

California is among the top destinations for high-tech workers, who earn among the highest incomes in the country. Those who already own homes in the state, especially in San Francisco’s tony Bay Area, are the envy of their peers elsewhere. Even so, California’s new governor, Gavin Newsom, sees a growing “homeless epidemic” haunting middle-income workers and single-income households in the state, for whom both home ownership and renting are unaffordable. The median price of a home in the state was $570,000 last year, up 6% from 2017, and set to rise further, according to a forecast by the California Association of Realtors.

Newsom wants to make way for 3.5 million affordable new homes by 2025, and has incorporated proposals to achieve that in his budget earlier this month. Standing in the way of more affordable housing in California are 40-year-old laws that discourage home sales and encourage higher rents; restrictive urban planning policies that curtail land supply; and old mindsets that resist change, according to experts at Wharton and the University of San Francisco.

Susan M Wachter Wharton, professor of real estate and finance, noted that in many cases, it is not possible for one breadwinner to shoulder the cost of housing in California. “It takes often several members of the family working to afford what would be minimally adequate elsewhere in terms of rental housing,” she said. “What’s particularly hard is, elsewhere, the family formation period is often one of homeownership where you then can have stability and be protected against rent increases. But getting on that homeownership ladder is very difficult if rents are high. You can’t save.” Wachter is also co-director of the Penn Institute for Urban Research.

The problem of housing affordability in the state has existed since the times of the Gold Rush in the mid-1800s, said William (Billy) Riggs, assistant professor in the School of Management at the University of San Francisco. Policy makers, businesses, public entities and other stakeholders have to address the housing affordability problem not only for California, but also for other states and cities that could face the same situation in future, he said. “It may be Austin, Chicago or Nashville that we’re talking about next in terms of gentrification and pressures on job growth.”

Wharton professor of real estate Todd Sinai called for “a holistic approach” to the housing affordability problem in California that takes care of the needs of future generations as well. “Even if you solve the housing problem in the immediate short term, five years from now the growth in the number of people who are going to need jobs in California will again present a problem,” he noted. A holistic approach would focus on not just making land available for the housing needs of a higher-density workforce, but also an integrated transportation infrastructure, Sinai explained. “One of the issues is that the real estate is more expensive in the places where the jobs are, and the commutes in California to get there take so long that people can’t spread out. And that is a transportation issue. The way to make more land available is to have easier access to get from those places into the cities where the jobs are.”

Increasing Housing Supply

Newsom is focusing primarily on increasing housing supply, where he is working with mayors to make way for new construction with the requisite financing. “We’re seeing a theme of partnerships across sectors whether it is public, private or philanthropic,” said Riggs.

Riggs expected builders to “be open” to Newsom’s efforts. “We’re seeing an openness to engage in that type of dialogue,” he noted. Builders have been experimenting with modular and prefab units that can be constructed relatively faster, and also different house types to suit the needs of changing family structures, he added.

Wachter called for partnerships that bring new types of housing that is modular, high-density, and near transit. She said that those approaches are “the way forward,” but wondered if it is possible to scale them, and especially in the places with the greatest need. Such housing needs to be near more markets that have job opportunities, she added.

The pent-up demand for housing in California is exacerbating the problem. “The difficulty California faces is that the overhang of excess demand to live there is so large that the scale you would need to make a real dent in this is quite high,” said Sinai. One way to solve that problem is to have better technologies that allow developers to build at a cheaper cost, he added. Doing so would mean higher profits for developers rather than lower prices for residents, “unless you really move the needle on supply or if you do controls on the rent that can be charged,” he added.

Threading the Needle

Affordable rental housing in the right places is not easy to achieve, Riggs noted. “Part of the issue is [having] housing in the right location, and it’s difficult to thread this needle in a way that gives a supply bump that is needed.”

Renting a home at affordable rates is also difficult in California because several factors constrain availability and drive up rents. For one, “there’s no incentive right now for builders to build rental stock,” said Riggs. He noted that a typical studio or a one-bedroom apartment would rent for between $3,000 and $5,000 monthly, which would be beyond the reach of middle-income workers or single-income families.

Riggs also pointed to what he called “the elephant in the room” — a 1978 state law called Proposition 13 that caps property taxes at 1% and increases in assessment values at 2% a year between two sales of a property. That has a “lock-in effect,” discouraging sales of owner-occupied homes, according to a research paper published by the National Bureau of Economic Research. “The large effect of Proposition 13 on renters’ tenure is particularly striking and suggests that longer tenure by owner-occupiers forces younger households to delay their transition from renting to owning,” the paper’s author wrote.

Riggs said that because Proposition 13 has fixed property taxes for many for many generations since 1978, it has “created great wealth disparity and generational wealth disparity.” That would be one challenge for Newsom, and already, efforts underway to dismantle it and allow the state to earn more tax revenues.

A third obstacle to building affordable rental housing is the availability of land. “Where is the land?” Wachter asked. “How do [builders] get into the market at a price point that’s affordable?”

Will Higher Wages Help?

One way to tackle the affordability issue is with higher wages for employees in the state, Sinai suggested. “The people who can afford to live in California are those who either have a lot of money or who are willing to work a tremendous amount to earn a lot, just to be able to be there, or people who are willing to spend a larger fraction of their income in order to be there,” he said.

However, higher wages could be counterproductive in addressing the affordability problem. “We have to be cautious with that lever,” said Riggs. He cited case studies which showed that higher wages have caused home prices to rise.

A Partnership Approach

Riggs suggested “creative uses” of land controlled by public entities such as parking lots, school district sites and underutilized inner city lots to make way for a “wide-scale building boom.” Wachter backed Riggs’ idea of finding new uses for publicly owned lands. “Public entities are aligned in terms of incentives for getting this done,” she said. However, Riggs pointed also to “fragmentation” in the ownership of lands as an obstacle in freeing up sites for development.

As mayors in the state explore those and other ways to increase the supply of land for housing with the requisite approvals, Wachter reiterated that they must be able to do so at scale to have a meaningful impact. And for that to happen, they must secure the support of their constituents. “Behind all of this is [the question]: Are constituents supportive?” Wachter said. “There will need to be change along many lines to solve this problem in a holistic way.”

How Businesses Could Help

Businesses in the state are also eager to try and do what they can to solve the housing affordability problem, Riggs noted. Companies like Genentech, Google and Facebook are among those that are “willing to contribute to [solving] this issue” and partner with the state in its efforts, he said.

Companies don’t want the housing problem to make it difficult for them to find talent and therefore be compelled to move out of the state. “The Bay Area companies really want to stay here,” Riggs said. “They want to see change. They want to be able to house particularly some of their service employees, and some of their junior employees.”

According to Sinai, companies could play a significant role in facilitating “truly affordable workforce housing” because it benefits them. “To a degree, companies historically have provided affordable housing for their employees,” he added. “Nothing is keeping a firm in San Francisco from buying land … and making it available for their employees at below-market rates [so they can] afford to live in a good location.” Wachter added that companies could also use such lands they may buy to provide transit infrastructure.

Averting a National Crisis

More broadly, Wachter saw a role for the federal government, too, in helping California solve its housing problems. “There needs to be a federal answer as well,” she said. “There needs to be encouragement to produce affordable workforce housing. There has to be an emphasis on that throughout the nation, connected to transit. California is an outlier, but it’s also a harbinger here.” Policy makers and builders in other states could learn from the positive steps that California may take, and try to replicate them.

Sinai agreed that affordable housing is “a national issue.” Research has shown that San Francisco, in particular, and California, in general, are “under-housed from an economic perspective,” and that has consequences. “There’s productivity loss in the aggregate economy by not having more affordable housing in those areas.”

California, your affordable housing woes are far from over

It’s no surprise that affordability has been a tremendous concern for many home owners living in California, and new data suggests that their worries are far from over. According to the Traditional Housing Affordability Index from the California Association of Realtors, the percentage of homebuyers who could afford to purchase a median-priced, existing single-family home edged up to 28% in the fourth quarter of 2018. Although this is an increase from 27% in the third quarter, the percentage is still slightly lower than 29% in Q4 of 2017.

This comes as no surprise, as CAR notes the index has been below 30% for six of the past eight quarters. “Lower seasonal home prices allowed more Californians to afford a home purchase in the fourth quarter of 2018 compared to the previous quarter, but higher interest rates pushed affordability lower compared to the previous year,” CAR writes.

Across the state, it took a minimum annual income of $122,340 to qualify for the purchase of median-priced single- family home of $564,270. Compared with California, 54% of the nation’s households could afford to purchase a $257,600 median-priced home, requiring a minimum annual income of just $55,850.

This affordability disparity may explain why Redfin’s latest migration report revealed that so many homeowners were relocating to less expensive markets.

According to the report, San Francisco and Los Angeles were among  the top metros to report the highest net outflow of residents.

“Rising mortgage rates are exacerbating affordability issues that have been driving people out of expensive coastal metros for the past few years,” Redfin Chief Economist Daryl Fairweather said. “With rates no longer near historic lows, buyers are increasingly cost-conscious, seeking more affordable homes in low-tax states in the South and middle of the country.”