BIA Joins Coalition of Housing Advocates to Unveil Plan to Lower Housing Costs by 42% & Generate Millions in New Property Taxes for Schools and City Services
Lori Pfeiler, BIA’s CEO, participated in a news conference Friday morning outside of San Diego City Hall as a member of Homeownership Opportunities for San Diego, a coalition of housing and finance experts that includes the YIMBY Dems, Chicano Federation, and the Gen Z group Our Time to Act. Lori was one of the speakers at the news conference today.
“The San Diego County Building Industry Association strongly supports this initiative,” she said. “Families need homes, we need a variety of homes, this small lot development would add one more category to the type of home offered. Many families would like to have the opportunity to live in a single-family home, they are ready to move up into homeownership but that is beyond the reach of so many.”
She added: “Only 9% of families can afford to purchase a home in San Diego. This initiative would help change that by lowering the cost of homes for families by an average of 42 percent, and the city and our schools would benefit from an infusion of property tax dollars.”
The coalition’s plan calls for eliminating minimum lot sizes in the City of San Diego. Doing so would lower the cost of housing an average of 42 percent and generate hundreds of millions of dollars in new property tax revenues for schools, parks, libraries, and other neighborhood services, according to economists with London Moeder who released their findings at Friday’s news conference.
