Affordable housing is a good thing, but does an equity cap stifle upward mobility?

4.4 percent of Village Farms will be dedicated to deed-restricted affordable homes for sale

While there are a number of good reasons to vote “Yes” on Measure V and several strong arguments in favor of a “No” vote, let’s zero in on the “affordable housing” aspect of the project.

According to Exhibit B in the official Yolo County Voter Information Guide, “The Project will create a diverse residential neighborhood with housing options for residents across a broad range of income levels.”

Presumably, that’s a good thing.

Hopefully, some folks on the lower end of the income scale will be able to take advantage of much-needed affordable housing in town, while those on the upper end will purchase the higher-priced homes that help to make Village Farms financially feasible for the developers.

Under the heading of “Affordable Housing” in Exhibit B, we learn that “Village Farms Davis will provide land and capital toward the construction of up to 360 Deed-Restricted Affordable Housing units, approximately 20% of total residential units. This provision exceeds the City requirement.”

Which is all well and good.