Orange County Homes: Housing Shortage May Force Developers to be Creative
Feb. 16, 2015
Recently, an article in the Orange County Register predicted a complicated future when it comes to Orange County homes. It seems the county is already facing a housing shortage of 30,000 to 60,000 homes, yet the area is anticipated to grow by 350,000 people over the next 25 years. If this number holds up, this means that an additional 143,000 homes will be needed in the region.
The dilemma may force developers to get creative, the article notes. Micro apartments — those as small as 250 square feet — in high rise buildings may provide a partial solution to the shortage. Currently 65 percent of all building permits in Orange County have been for high density housing projects, such as apartments and condos, instead of single-family dwellings and that trend is expected to continue.
Another way to address the shortage that has potential, the article states, is to convert under-utilized locations into housing. Already, there are plans to convert aging industrial and commercial properties into residential units and that trend is also expected to continue. The article also suggests that the county and the region as a whole can play a part through relaxed building permit processes, more affordable housing options, and higher living wages for residents and employees.
Addressing the housing shortage and revitalizing under-utilized areas with new housing opportunities is part of what Brandywine Homes is all about. We believe in providing homes that are big on style and amenities, provide ample space for all of the things your life entails, in the wonderful Southern California communities that people from all walks of life are drawn to. For more information about our communities in Orange County, contact us.
