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Page 7 of 14 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />New and Emerging Realities in the Affordable Housing Landscape <br /> <br />Housing Production Opportunities <br />The pipeline of housing is integral to achieving the City’s goals as articulated in the Housing Element, <br />requiring the City to set priorities and carefully allocate staff time to ensure successful progress and <br />completion. <br />The City monitors all new housing developments according to four status categories: <br />1. Predevelopment - Applicants are actively going through the entitlement process. <br />2. Approved, construction pending - Project is approved, but Building Permits have not yet been <br />approved, and/or the applicant is working to secure funding for the project. <br />3. Under construction - Applicant has pulled Building Permits and the project is under construction. <br />4. Post completion – For projects with affordable units, the City monitors initial lease up/sales along with <br />ongoing compliance monitoring. <br />Through efforts of the City Council, community, and staff, the City is currently managing a pipeline5 of <br />approximately 3,600 total units of both affordable and market-rate housing in some level of development, <br />of which, approximately 1,100 would be deed-restricted to income-eligible households. For context, the <br />City’s Regional Housing Needs Allocation (RHNA) for the 2023-2031 Housing Element cycle is 4,5886. <br />Very Low Low Moderate Above Moderate <br />0 <br />500 <br />1000 <br />1500 <br />2000 <br />2500 <br />3000 <br />RHNA Pipeline <br />City Housing Development Pipeline <br />vs. 2023-2031 RHNA Goals <br />5 Pipeline includes projects under construction, approved, working on entitlements, or in the conceptual stage. <br />6 While the City has a robust pipeline, the City can only receive RHNA credit when a project pulls building permits. <br />8.A. - Page 7 of 21 <br />165