Laserfiche WebLink
Page 4 of 13 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />Figure 1: Redwood City 2023-2031 RHNA and Housing Units Issued Building Permits <br />in Current RHNA Cycle Through 2024 <br /> <br />*Percentages represent the proportion of units counted toward <br />Redwood City’s RHNA obligation through 2024. <br />  <br />Figure 2 shows the number of housing units issued building permits for the years 2019 through 2024. <br />Building permit activity in calendar year 2024 was below average relative to the previous five years when <br />the yearly average was 291 units permitted. It is typical for building permit issuance to fluctuate from year <br />to year based on economic and development cycles. For example, as demonstrated in Figure 2, there was <br />a slowdown in permitting activity in 2021 and 2022 partially due to the COVID pandemic, but it picked up <br />again in 2023 once the pandemic receded. Market conditions for both residential and commercial real <br />estate development were challenging in 2024, particularly at the local, regional, and state level, due to a <br />number of factors including elevated interest rates, high construction and labor costs, and uncertainty in <br />the office market. In Redwood City and throughout the Bay Area, many entitled projects have paused on <br />pursuing building permits. That said, as discussed in the “Anticipated 2025 Activity” section below, City <br />staff anticipates several projects in Redwood City will be issued building permits in 2025. <br /> <br />6.A. - Page 4 of 52 <br />13