So this is on Jennifer Roloff’s website as a solution to the housing woes of Alameda. She, apparently, believes that the type of housing that she thinks Alameda needs is of the non market rate variety aka the stuff that developers build that everyone seems to hate except for the people that purchase those homes.
Workforce housing conjures up things like Casa De Maestros in the South Bay and isn’t all icky like low income housing so it’s a buzzword of choice for the NIMBYs out there looking to prove that they’re not against housing, just against that housing development that happens to be in front of an approving agency.
I’ve already reflected on the lack of awareness that Jennifer Roloff has with regard to “affordable housing.” Earlier she intimated that the City of Alameda and non profit housing developers simply had not looked hard enough for funding sources. Because she’s fundraised for the Franklin PTA where people are just waiting to throw money at the PTA so she knows that money will come as long as you just look for it.
She used all the nice buzzwords like “boomerang funds” and talking about the affordable housing bond, but given that she thinks that $10 million is meaningful to the development of affordable housing, it’s clear she doesn’t understand the topic at all. She probably should have found out how much the last affordable housing development actually cost before talking up the $10 million like it’s some magic bullet.
I put this together when another “fresh face” decided to weigh in on affordable housing construction. You’re welcome, Jennifer Roloff.
Here’s the funding breakdown for Shinsei Gardens. For Jennifer Roloff: it’s the development on Willie Stargell street that is next to Coast Guard Housing on the West End. If you’ve never gone past Target you will not have seen it, if you have gone to Rockwall, you may have noticed it. It’s nice and new and has lots of nice families that live there. Renters. Breakdown:
City of Alameda $3.8m
CalHCD MHP $3.5m
Tax Credit Investor – NEF $6.9m
General Partner Equity $1.1m
Citibank Permanent Loan $1.3m
County Alameda $365k
Stop Waste. Org $40k
Home Depot Foundation $50k
Bay Friendly Landscaping $15k
Total Project Costs: $17.1m
Per Unit Hard Costs: $291,140/unit
Per Unit Total Costs: $438,000/unit
See that? The total project cost is $17.1 million which would subsume all of the allocated funds from the County with an additional $7.1 million to raise. Hard costs are actual construction costs. Total costs include everything else like architecture fees, getting through the approval process from the City especially when people who don’t like a project ask a City Council member to do a call for review, things like that.
Shinsei Gardens only has 39 units, so that $10 million doesn’t even stretch far enough for 39 units yet somehow Jennifer Roloff is proposing this as though it is some magic bullet solution to all our housing problems. Recall that the new-APC, I mean RESHAP, has the cobbled the financing together for the housing units alone, but without market rate development there is no RESHAP because the backbone infrastructure cannot be built.
This is basic, basic stuff here that even a lowly blogger knows about. Is it too much to ask that people running for leadership positions in the City of Alameda know more than a once-every business day hyper local blogger? Oh, I forgot, we like “fresh faces” and not standard politicians in this City as though ignorance of the basic issues is some virtue.