City of Irvine Housing Strategy and Implementation Plan
Creator
Civic Stone
Date
Adopted March 14, 2006
Amended June 24, 2014
Amended November 10, 2015
Amended June 24, 2014
Amended November 10, 2015
Description
[This is a great report to understand Irvine's visionary housing development, and principles and implementations such as inclusionary zoning and the Irvine Community Land Trust].
From the Executive Summary: The cost of housing is very high in Orange County, and particularly so in desirable areas like the City of Irvine. The median price of a single-family home in Irvine is now $800,000, higher than the Orange County average ($707,000) and much higher than the overall average for California ($538,770).
Since its incorporation in 1971, the City of Irvine has been a leader in Orange County and in Southern California in the creation of a full spectrum of housing opportunities, including affordable housing. The City has provided inclusionary incentives locally and has also provided funding for various affordable housing projects over the years. As a result, the City now has 4,400 units of affordable housing, of which 3,155 were created through its inclusionary program and another 1,245 through HUD-assisted projects. Unfortunately, many of these affordable housing units are now at risk of losing their affordability due to expiring controls, restrictions and/or subsidies.
The recent annexation of the former El Toro Marine Corps Air Station property, and the City’s subsequent creation of a Redevelopment Agency with El Toro as its project area, has created a new and significant opportunity for future affordable housing. The build out of the residential portion of this property, together with the continuing build out of the rest of the City, will provide the City with the ability to create a significant number of new affordable housing units.
To capitalize on this opportunity, the City of Irvine hired CivicStone, Inc., a consulting firm specializing in affordable housing, to develop a housing strategy for the City. This report represents the culmination of this work.
From the Executive Summary: The cost of housing is very high in Orange County, and particularly so in desirable areas like the City of Irvine. The median price of a single-family home in Irvine is now $800,000, higher than the Orange County average ($707,000) and much higher than the overall average for California ($538,770).
Since its incorporation in 1971, the City of Irvine has been a leader in Orange County and in Southern California in the creation of a full spectrum of housing opportunities, including affordable housing. The City has provided inclusionary incentives locally and has also provided funding for various affordable housing projects over the years. As a result, the City now has 4,400 units of affordable housing, of which 3,155 were created through its inclusionary program and another 1,245 through HUD-assisted projects. Unfortunately, many of these affordable housing units are now at risk of losing their affordability due to expiring controls, restrictions and/or subsidies.
The recent annexation of the former El Toro Marine Corps Air Station property, and the City’s subsequent creation of a Redevelopment Agency with El Toro as its project area, has created a new and significant opportunity for future affordable housing. The build out of the residential portion of this property, together with the continuing build out of the rest of the City, will provide the City with the ability to create a significant number of new affordable housing units.
To capitalize on this opportunity, the City of Irvine hired CivicStone, Inc., a consulting firm specializing in affordable housing, to develop a housing strategy for the City. This report represents the culmination of this work.
Publisher
City of Irvine
Collection
Citation
Civic Stone, “City of Irvine Housing Strategy and Implementation Plan,” I4E: Housing4All Digital Library, accessed April 26, 2024, https://i4e.omeka.net/items/show/19.
Comments