l
IN THE NEWS
A
s people who rent or own
in North San Diego
County can attest, living
here can be expensive. But for-
ward-thinking developers in the
area are aiming to make living here
more attainable for people with
lower incomes.
National Community Renais-
sance, known as National CORE, is
a nonprofit that works locally as an
affordable housing developer/
owner/operator/property man-
ager, specializing in affordable
rental apartment homes for low-in-
come families, seniors, veterans
and those with special needs.
"North County has an extremely
high need for affordable rental
homes," said John Seymour, vice
president of acquisitions for Na-
tional CORE. "People who are
working for minimum wage,
working in the retail section, work-
ing in tourism, secretaries, fire, po-
lice … cannot afford home
ownership, and they really cannot
afford a market-rate rental home
because they'd be paying some-
times 50 and 60 percent of their
take-home pay to rent."
Those percentages are above the
recommended 35 percent of total
income spent on housing, said Josh
Williams, president of BW Re-
search Partnership Inc. Williams
said in North County, 48 percent of
households that are renting spend
more than 35 percent of their in-
come on housing in rental costs. By
comparison, in Santa Clara County,
the heart of Silicon Valley, 40 per-
cent of households are spending
more than 35 percent on housing
and rent.
"As the labor market gets tighter
and tighter, and less people are
able to afford here, two things are
going to happen," Williams said.
"They're going to start pulling peo-
ple from a larger area, so trans-
portation is going to get more
congested, and you're going to see
businesses that may end up having
to go away because they can't find
the talent or the people, the work-
ers that they need who can live
within a close enough area. It is
important that we find ways to
help people both live and work
here."
National CORE owns and man-
NO PLACE
LIKE HOME
n NEW COMMUNITIES PROVIDE
AFFORDABLE HOUSING WITH
THE ABILITY TO WORK NEARBY
BY LindseY BaLL
HOUSING
MARKET
W
hen it comes
to finding a
place to call home,
the more prospec-
tive residents know,
the better off they'll
be, the better fit
they'll find for a res-
idence, and the
more long-lasting
that decision will
be. And business
owners know that if
people have a good
place to live,
they're more likely
to call that com-
pany home. Here
are some helpful
resources to shed
light on the topic:
>> CLICK HERE
to learn about liv-
able communities.
>> CLICK HERE
to learn about the
National CORE
program.
>> CLICK HERE
to learn about walk-
able communities in
North County, such
as Bressi Ranch.
{LEARN MORE}
NORTH COUNTY BUSINESS JOURNAL
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SPRING 2016
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sdnedc.org
Artist rendering
of Mission Cove.
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