The passage of California State Bill 591 this past November marks an important change in affordable housing. This new legislation enables developers to build affordable housing for seniors to live side by side with youth transitioning out of foster care.
This type of intergenerational housing wasn’t feasible before SB 591 due to the way tax credits for senior housing were structured. Previously, tax credits were used to help finance senior affordable housing for people aged 55 and older, though they came with a restriction that prohibited the financing of other types of affordable units in the same building. Now, up to 20% of the units of an intergenerational housing development can be occupied by one caregiver or a transition-age youth (TAY).
As noted in research, seniors and TAYs will benefit from living in intergenerational housing. There’s a social and health benefit for both groups, particularly seniors, and it will help provide more housing opportunities for TAYs.
We are excited about what this means for our future residents. Our newest planned development at 4300 San Pablo in Emeryville will be an intergenerational community. We believe it will be the first of its kind in the San Francisco Bay Area, and possibly in California. It will have 68 units, with a combination of studio, one- and two-bedroom apartments, ranging in size from approximately 440 to 850 square feet. Construction is planned to begin in late 2024.