Why So Many Local Apartment Homes?
Filed under: Real Estate Market
Why are we seeing so many apartment homes being built here in Temecula? If you have noticed that there are a lot of apartments going up at the same time, then you might be wondering about the current trends in the housing market.
State Bill 35 = More Apartments in California
Here in California, State Bill 35 is one of the main drivers for apartment construction. There is a housing shortage in areas such as Temecula and Murietta, and this bill is aiming to make more affordable housing available in order to keep up with the population demand. So, this bill helps to FastTrack the approvals and permits that builders need to get started on the project.
How Will This Construction Affect Our Community?
Of course, there are understandable concerns in the local communities. Current homeowners are wondering how the increase in apartments will impact traffic and population density. Remember that this is a state-mandated bill, which means that there are likely going to be both positive things and repercussions that can result from all of the new building projects.
Only time will tell how this new construction will affect housing availability and pricing. I would love to hear your thoughts and discuss this topic in more detail if you would like additional information.
I’m always here to help with your moving and real estate needs in Temecula. Call, text, or email to get personalized recommendations so that you can find the ideal home for your family: (951) 473-0390 or [email protected]