Welcome to today’s roundup of news in the Real Estate category! In California, first-time homebuyers have reason to celebrate as the California Dream for All program will be opening applications on April 3. This program provides down payment assistance to eligible applicants, making homeownership more attainable. Meanwhile, Texas’s housing market continues to outpace California’s, with its top three markets building 300% more homes. The favorable factors contributing to Texas’s housing boom include migration, affordability, and fewer regulations. On the policy front, a proposed decision by the California Public Utilities Commission puts the state’s community-solar market at risk, drawing criticism from solar industry groups. Additionally, the introduction of Cotino, a Storyliving by Disney new home community in California’s Coachella Valley, offers a unique living experience inspired by midcentury-modern design and the Disney spirit. Lastly, a battle is underway in Solano County over the development of a new city called California Forever, which aims to address the state’s housing crisis. Stay tuned to learn more about these exciting developments in the real estate world.
Applications Open April 3 for California Program That Helps Pay for Your First House | KQED
Good news for first-time homebuyers in California! The California Dream for All program will be opening applications again on April 3. This program provides down payment assistance to eligible applicants, helping them achieve their dream of homeownership. With approximately $250 million available this year, the program aims to assist between 1,600-2,000 new applicants. Changes have been made to address disparities and ensure the program reaches its intended demographic target. Find out who is eligible, how the program works, and what steps you need to take to apply. Don’t miss this opportunity to get help with your down payment and make your dream of owning a home a reality. Read the full article.
Texas’s big 3 housing markets built 300% more homes than California’s | Fortune
Texas is outpacing California in home construction, with its top three markets (Dallas, Houston, and Austin) building 300% more homes than California’s top three metropolitan areas. The key factors behind Texas’s housing boom include migration, employment opportunities, accessibility to land, better regulation, and affordability. Unlike California, Texas has more developable land and fewer regulations, making it easier for developers to meet the growing demand for housing. While the cost of housing has increased in Texas, it remains more affordable compared to California. However, zoning and entitlement rules in California make it challenging to build homes, leading to opposition and limited developable land. Despite its massive population, California struggles with infill development and faces regulatory hurdles. In contrast, Texas offers a more favorable environment for developers, allowing them to respond quickly to housing needs. Although there are concerns about future population growth, Texas continues to attract residents due to its housing options and job opportunities. Read more on Fortune.
New policy proposal dims hopes of reviving community… | Canary Media
A proposed decision by the California Public Utilities Commission (CPUC) has put the future of California’s community-solar market at risk. The decision sides with major utilities against a coalition of solar industry groups, consumer advocates, environmental-justice organizations, labor unions, and the state’s homebuilding industry. The proposed decision argues that the Net Value Billing Tariff (NVBT) policy, supported by the coalition, conflicts with federal law and does not meet the requirements of AB2316, the state law aimed at creating an affordable and equitable community-solar program. The decision has drawn criticism from the coalition and conflicts with the view of California lawmakers involved in passing AB2316. The proposed decision would require utilities to alter existing community-solar programs instead of implementing the NVBT, which has been seen as a promising alternative. The NVBT program could enable the development of around 8 gigawatts of community solar in California, contributing to the state’s clean-energy goals. The decision also raises concerns about California’s eligibility for federal aid to expand community solar. Read more on Canary Media.
House Style: Cotino™, a Storyliving by Disney™ Community Keeps the Midcentury-Modern Story Alive | Architectural Digest
The greater Palm Springs area in California’s Coachella Valley, known for its midcentury modern architecture, is now home to Cotino, the inaugural Storyliving by Disney new home community. These communities are designed with creative guidance from Disney Imagineers, incorporating the Disney ethos and legendary service. Cotino community, currently in development in Rancho Mirage, aims to combine style and function for inspired everyday living, with single-family homes and future condos that embody easy living and foster connections with neighbors and nature. The community features four distinct home design collections inspired by the region’s architectural history. With an emphasis on building connections and a range of amenities, Cotino community offers a unique living experience rooted in midcentury-modern influences and the Disney spirit. Learn more on Architectural Digest.
New city’s fate will show if California is serious about housing – Orange County Register
A battle is brewing in Northern California’s Solano County over the development of a new city called California Forever. Venture capitalists have quietly purchased 50,000 acres of land with plans to build a community with tens of thousands of residents, clean energy, public transportation, and dense urban life. The project, reminiscent of Disney’s secretive purchase of swampland for Disney World, aims to address the state’s housing crisis. However, the proposal has faced opposition from both NIMBYs and some YIMBYs. The outcome of this project will determine whether California is serious about building new housing and providing opportunities for new generations. Read more on Orange County Register.