Palo Alto Considers Subsidizing Housing For Those Making $250,000 a Year
A home for sale in Palo Alto for about $2.5 million.
Today in crazy housing news: The Palo Alto City Council is considering a proposal that would subsidize housing for families making between $150,000 and $250,000 a year.
CBS San Francisco is reporting that the Council is studying the proposal that “would focus on building smaller, downtown units for people who live near transit and don’t own cars, along with mixed-use retail and residential developments.”
While the measure is still a ways from becoming a reality, the very proposal speaks to the issues arising from the Silicon Valley housing crunch. And the fact that the median price for a home in Palo Alto is north of $2 million doesn’t actually make the proposal that outlandish.
This article originally published at https://dc.urbanturf.com/articles/blog/palo_alto_considers_subsidizing_housing_for_those_making_250000_a_year/11028.
Most Popular... This Week • Last 30 Days • Ever
A Cathedral Heights condominium—located on Cathedral Avenue—with outstanding buil... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
- Two Bedrooms with Two Balconies on the Market in Amenity-Packed Cathedral Heights Condominium
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro