‘It’s insane’: San Diego County affordable housing project set to cost $1.1 million per apartment

California
An aerial view of the site of a proposed affordable housing project near million-dollar condos in Solana Beach in San Diego County. It’s a 10-unit project that has been in the works for the last decade and has yet to break ground.(Allen J. Schaben / Los Angeles Times)

An aerial view of the site of a proposed affordable housing project near million-dollar condos in Solana Beach in San Diego County. It’s a 10-unit project that has been in the works for the last decade and has yet to break ground.(Allen J. Schaben / Los Angeles Times)

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When developer Ginger Hitzke first proposed an affordable housing complex on a parking lot in Solana Beach, she envisioned building 18 new homes for low-income families and adults at a cost of $414,000 per apartment.

More than a decade later, her project has shrunk in size by nearly half and become more than twice as expensive.

At $1.1 million per apartment, the Pearl is the priciest affordable housing project in the state and, likely, the country. It also serves as an alarming example of how political, economic and bureaucratic forces have converged to drive up the cost of such housing at a time when growing numbers of Californians need it.

“I have sticker shock,” Hitzke said. “It’s insane.”

Read the full story on LATimes.com.

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