New housing reforms could save more than $40,000 per home
By Olivia Gonzalez-Britt, ABC 10 News San Diego
California has some of the highest housing costs in the country and for years developers say building affordable housing has been slowed by a complicated funding process.
Under Governor Gavin Newsom’s new housing affordability reforms, several state housing financing programs will now be brought together under one roof, making it easier for developers to apply for the money they need to get projects off the ground.
“Imagine you’re trying to build a home, and someone tells you you have to go to four or five different banks to get the funding to build that home,” Matt Schawrtz with the California Housing Partnership said.
He estimates the change could save more than $40,000 per home mostly by cutting the time it takes to piece together financing.

