Livermore To Consider Housing Changes For Aura, Serenity Developments

LIVERMORE, CA — The Livermore City Council will consider proposed changes to the city’s affordable housing requirements for two large residential developments.

Shea Homes, which developed Shea Aura and Shea Serenity in the Isabel Avenue area, said that it has struggled to sell moderate-income affordable ownership units, according to a city staff report. Most of the affordable units were three-bedroom homes, but demand was stronger for smaller households seeking one and two-bedroom units. Even at restricted, affordable prices, many qualified buyers declined to purchase due to the overall cost of ownership.

Shea Homes proposed amendments to project approvals that would allow it to sell up to 25 moderate-income units across the Aura and Shea developments at market rate. They argue this will attract a larger pool of applicants better able to afford extra costs and more attracted by potential resale value. In place of those units, the developer would pay in-lieu fees economically equivalent to providing the affordable units on site. The city could use those fees to support future affordable housing projects serving lower-income and special-needs residents, including Pacific Avenue Senior Housing Phase 2 or the Walnut Street Project.

The proposal would leave all median-income affordable units unchanged, retaining enough on-site affordable housing to satisfy the minimum requirements needed for the projects to maintain state density bonus concessions.

The Livermore Planning Commission approved the proposal 4-1. One commissioner opposed the proposal, arguing that more time should be given trying to sell the units.

See here for more information, and here for Monday’s full agenda.