NEW YORK: The three hundred and thirtieth entry for the seniors housing Global Awards for 2015 has been received.
The city of Berkeley is building up its affordable housing stock by giving developers an alternative to a state law that grants them extra density in exchange for including affordable units on site.
Under the proposal, developers of rental housing seeking a density bonus do not have to include below-market-rate units in their projects. They instead pay new fees that bring millions into the city’s Housing Trust Fund for affordable housing.
The state density bonus allows developers who include 11% below-market-rate units meeting very-low-income standards to add 35% more units to the project.
