BERKELEY — The Berkeley City Council agreed to allocate the largest single investment in the city’s history toward affordable housing near two BART stations.
Berkeley City Council unanimously voted Tuesday night to allocate the $53 million to help develop, in collaboration with BART, hundreds of new affordable homes at the Ashby and North Berkeley BART station parking lots.
“This vote is the culmination of years of community planning,” said Mayor Jesse Arreguin in a statement. “But it’s the wisdom of Berkeley’s voters that made this possible.”
The $53 million would fund the project to make it at least 35% affordable, which amounts to 298 affordable units at Ashby and 271 at North Berkeley, according to the staff report. However, actual numbers for what the project could look like, are at least one year out, according to the mayor’s office. And the total cost of the project has not been determined.
The project could have up to 850 apartments at the Ashby station, and 775 apartments at North Berkeley station, according to a city staff report. BART’s goal is to complete all construction by 2031.
The City Council also asked the city manager to investigate the possibility of another bond measure that could fund housing or infrastructure needs, with a goal of 100% affordable housing at either, or both, sites. If the city were to subsidize funding for a 100% affordable housing project at both sites, the estimated cost will be $302 million, according to the city report.
Most of the city funding ($40 million) will come from Measure O, the $135 million housing bond that Berkeley voters passed in 2018 with 77% of the vote. The remainder $13 million will come from the city’s future affordable housing mitigation fees, and/or another source to be identified in 2024, according to the city.
The effort is part of a larger housing plan to create an equitable and sustainable community, according to the mayor’s office.
Voters also passed Measure U1 in 2016, a gross receipts tax for housing development and retention expected to raise $2.98 million to $3.45 million annually.
The City Council is also expected to vote in June on the Tenant Opportunity to Purchase Act, which would give tenants the first opportunity to collectively purchase the property they rent if it goes up for sale.
“By taking these actions, Berkeley officials aim to show that by working together we can achieve the goals of ending the affordable housing crisis and homelessness epidemic, while creating a rare chance to set a national example of how a courageous city can grow sustainably and responsibly,” said a statement by the mayor’s office.