Affordable housing is a hot topic right now in Northern California. Most people agree there needs to be more of it, stat. But what defines “affordable”? It means different things to different people, like a young couple trying to buy their first starter home with room for plants on the front porch. An excited family with baby #2 on the way looking to upgrade to a home with a yard, or even seniors saying goodbye to their family homes and looking for a place to call home while downsizing into something better suited for their next stage in life.
No matter what the specifics are, one thing is clear:
More housing inventory = more affordability options
To have affordable housing, there needs to be options. When housing inventory is tight, it drives up real estate prices and becomes a “seller’s market.” This gives sellers the power due to low inventory. They often receive multiple offers and can demand higher housing prices in bidding wars when many potential buyers compete for a limited amount of homes. This makes housing less affordable for current Chico residents. But when there’s a surplus of homes available, it enables Chicoans to actually have a choice in the type of house and lifestyle they want instead of having to settle for what’s available on the market.
Valley’s Edge addresses Chico’s housing needs
Valley’s Edge has been planned to offer a broad range of housing types and affordability levels, like apartments, cottages, single-family homes, and more. This enables residents of all ages, backgrounds, and income levels to enjoy the benefits of homeownership and community together. Different kinds of housing stock offer options for single residents looking for a small cottage to larger single-family homes big enough for multi-generational living.
With a selection of homes for a broad range of lifestyles
At Valley’s Edge, 330 acres will be dedicated to single-family homes, and 100 acres to apartments and semi-detached housing. For people like aging seniors who want the simplicity of a low-maintenance and yard-free residence, 9 acres will be reserved for multi-family apartments in the Village Core. And no matter what type of home residents choose, everyone will enjoy the benefits of living in a walkable neighborhood surrounded by nature.
Want to learn more about housing at Valley’s Edge? Head here for info!