An Economy That Benefits EveryoneRelease Date: 2016-08-31
The Long Beach economy and housing market are booming. Unemployment is the lowest it has been in years, more businesses are opening up, property values are increasing, and household income continues to improve in many neighborhoods that have struggled with poverty for years. Our growth is strong and I expect it to continue over the next few years as we attract new investors and create a stronger corporate presence.
Due to the strength of the markets, new quality developments and housing are being built in Downtown, North Long Beach, and Midtown. Many of these developments, like the new Edison and the Current buildings, are towering developments that have forever changed our skyline. I have strongly supported these quality housing developments and will continue to do so. They provide quality housing for our changing workforce, and provide stability to our property tax base to ensure we can make investments citywide in public safety and infrastructure.
What I love about Long Beach is we help our neighbors, and we work to ensure our economy is working for everyone. As we continue to build market rate housing, we must ensure we also build housing for our low-income seniors, students, veterans, and working families.
The City of Long Beach has made significant progress in providing affordable housing. Over the past 10 years the city has built 1,828 new affordable units, preserved an additional 2,093 units and provided 335 First-Time Homebuyer 2nd Mortgages.
Our diversity is a strength and to support that diversity, I want to ensure we build and maintain quality and affordable workforce housing. In addition, we need to ensure that housing that is already affordable for our seniors and others, stays affordable in the future. Over the last few months, I have been meeting with a study group of housing advocates, experts, developers, and researchers to discuss opportunities to strengthen our housing affordability market. I want to thank former Assemblymember Bonnie Lowenthal for chairing this group and her leadership on this issue.
Over the next couple of months, we will be hosting three public forums and community meetings to discuss this issue and we would love to hear your feedback. The forums are designed to hear from local residents, advocates, developers, business leaders, and anyone interested in building quality affordable and workforce housing.
The upcoming meetings are:
Mayor’s Roundtable with Housing Advocates
Monday, September 19, 6:00-7:30 P.M.
Mark Twain Library Community Room
1401 E Anaheim St, Long Beach, CA 90813
Community Forum and Resource Fair
Saturday, September 24, 10:00 A.M.-1:00 P.M.
Jenny Oropeza Community Center at Cesar Chavez Park
401 Golden Ave, Long Beach, CA 90802
Mayor’s Roundtable with Developers
Friday, October 14, 1:00-2:00 P.M.
Michelle Obama Library
5870 Atlantic Avenue, Long Beach, CA 90805