The newly opened Launch apartment complex in Alameda highlights challenges in subsidizing housing for moderate-income earners, as all 19 designated units remain vacant. While lower-income units are filled, moderate-income renters, defined as making between 80% and 120% of area median income, are absent, frustrating developers. In many regions, those making above the median can afford market housing, but in the Bay Area, high earners also find themselves renting due to skyrocketing prices, illustrating a complex housing crisis amid efforts to diversify tenant incomes in new developments.
The last thing we want to do as a developer is build housing units that sit vacant, he said. That doesn't solve any social problems.
Even a couple making $300,000 a year can barely swing a starter home in the Bay Area, reflecting the stark supply-demand crisis.
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