CalHFA Launches ADU Grant Program Offering Up To $ 25,000 To Help Homeowners Build More Affordable Housing Options

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ADUs, often referred to as grandma’s apartments or casitas, are gaining traction with landlords and local government

SACRAMENTO, California, September 29, 2021– (COMMERCIAL THREAD) – Following an event Tuesday in Oakland where Governor Gavin Newsom signed legislation to boost the supply of affordable housing and strengthen accountability measures – and touted the state’s $ 22 billion investment in a wide range of housing types, including secondary housing units (ADUs) – the California Housing Finance Agency is delighted to present its new ADU Grant Program.

The CalHFA ADU grant program will provide up to $ 25,000 in assistance to low and moderate income homeowners to build secondary suites on their property. Increasing the production of ADUs, also known as grandma’s apartments, parental suites or casitas, is one of the latest efforts to alleviate the shortage of affordable housing in the state.

California has approximately 240,000 ADUs, a tiny fraction of the overall single-family housing supply. But more homeowners – especially those in high-cost areas like the Bay Area and Southern California – are embracing the idea, with around 25,000 building permit applications for ADUs issued in 2019 and 2020, according to UC Berkeley Center for Community Innovation.

“ADUs are an affordable, efficient and forward-looking option for many homeowners,” said CalHFA Managing Director Tiena Johnson Hall. “California needs to make the most of every opportunity to build more housing for its residents, and the ADU grant program is helping homeowners who want to invest and share their property to help solve a huge problem.”

Almost 90% of California municipalities have passed ADU-friendly ordinances in recent years, according to the UC Berkeley Center for Community Innovation. Several cities and counties have gone even further by establishing programs that offer financial assistance and / or pre-approved design plans for UDAs.

“Many homeowners have the land available in their backyard, and we want to make it as easy as possible for them with this grant program,” said Johnson Hall of CalHFA.

The California Housing Finance Agency was established in 1975 to help more Californians find a place to call home. CalHFA has helped over 201,000 low and moderate income homebuyers with $ 32.6 billion in first mortgage loans and used $ 6.1 billion in construction and preservation financing for over 70,000 affordable rental housing statewide. CalHFA is a self-funded state agency that does not depend on taxpayer dollars for its operational costs. For more information on CalHFA programs and how we are creating progressive financing solutions for affordable housing in California, visit www.calhfa.ca.gov or call toll free at 877.9.CalHFA (877.922.5432).

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210929005809/en/

Contacts

Eric Johnson
Telephone: 916.326.8601
Fax: 916.322.2345
[email protected]
www.calhfa.ca.gov


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