STOCKTON (CBS13) — Getting a place to live in Stockton just got a little easier and cheaper.
More than 100 new apartments will soon be built downtown, and the price tag could fit your wallet.
The city is still crunching the numbers, so nothing is confirmed. But after the big gift they got from the state Tuesday, lower rent is definitely coming to town.
Anne Marie can’t wait for low-income housing to arrive on her block on East Miner Avenue.
“We have a lack of homes, so now we’re creating that home,” Marie said. “So people don’t have to sit and suffer under a overpass, or sit next to a cold river.”
An empty field on the edge of downtown Stockton is set to have more than 100 units built on it by the end of 2020. The land will be leased to Stockton from the state. Now all that’s needed is a developer to come in and build.
“If you hate homelessness like I do, then you have to support solutions for affordable housing,” Stockton Mayor Michael Tubbs said.
Tubbs said he had to do something after the city has seen the second-highest rent increases in the country over the past year. He said he has a commitment to find homes for people making less than $45,000 a year.
The average rent in Stockton is $1,200, with most tenants facing almost $100 in rent increases every year.
“We just had a council meeting where mothers told us they’re working two jobs because they can’t afford rent,” Tubbs said.
Downtown businesses applaud the new venture. They believe anything new that comes with housing is a plan they approve, even if it means a little competition on the block.
Stockton just hired a housing chief who will oversee the project. The city council still needs to approve the deal. That will happen in a couple of months.