Facing a severe housing shortage, the City of Berkeley, Calif., increased the height limits on residential buildings to 12 stories in the area close to the University of California campus.
Local officials unanimously approved the height increase, an action that will nearly double the neighborhood's development potential. As many as 2,650 new housing units could be constructed around the university campus.
Just 1,300 units have been completed in Berkeley over the past five years. Fewer than 725 units are now in the city's development pipeline, far below the amount needed to keep up with the more than 10% population gain since 2010.
The city's dire housing shortage, with the university providing housing for less than 25% of its students, has caused sharp increases in rents. Average rents in Berkeley are about $2,700 per month, but those near the university campus can fetch as much as 50% more than those near the city's borders.
Related Stories
MFPRO+ News | Jul 24, 2024
Most popular cities for renters mid-2024
Rental activity in the U.S. continues to grow halfway through 2024. With the work-from-home boom stabilizing, more renters are eying desirable cities to relocate to.
MFPRO+ News | Jul 22, 2024
Miami luxury condominium tower will have more than 50,000 sf of amenities
Continuum Club & Residences, a new 32-story luxury condominium tower in the coveted North Bay Village of Miami will feature more than 50,000 sf of indoor and outdoor amenities. The program includes a waterfront restaurant, dining terraces with resident privileges, and a private dining room outdoor pavilion.
MFPRO+ News | Jul 22, 2024
6 multifamily WAFX 2024 Prize winners
Over 30 projects tackling global challenges such as climate change, public health, and social inequality have been named winners of the World Architecture Festival’s WAFX Awards.
MFPRO+ News | Jul 15, 2024
More permits for ADUs than single-family homes issued in San Diego
Popularity of granny flats growing in California
Vertical Transportation | Jul 12, 2024
Elevator regulations responsible for some of ballooning multifamily costs
Codes and regulations for elevators in the United States are a key factor in inflating costs of multifamily development, argues a guest columnist in the New York Times.
MFPRO+ New Projects | Jul 10, 2024
3 noteworthy multifamily projects for July 2024
These three multifamily projects on our radar include an artist-inspired complex, seven-acres of senior housing, and a budget-conscious rental community.
MFPRO+ News | Jul 8, 2024
Boston receives 304 new market-rate and affordable housing units
The Smith No. 99 in Boston, Mass., is a new 305,000-sf mixed-use apartment community featuring 304 market rate and affordable housing units.
MFPRO+ New Projects | Jul 2, 2024
Miami residential condo tower provides a deeded office unit for every buyer
A new Miami residential condo office tower sweetens the deal for buyers by providing an individual, deeded and furnished office with each condo unit purchased. One Twenty Brickell Residences, a 34-story, 240-unit tower, also offers more than 60,000 sf of exclusive residential amenities.
Senior Living Design | Jun 28, 2024
The country’s largest retirement community expands with educational facilities
The project will include a high school, a K-8 school, and an Early Learning Center aimed at serving the children of residents who work in qualified businesses within The Villages.
MFPRO+ New Projects | Jun 27, 2024
Chicago’s long-vacant Spire site will be home to a two-tower residential development
In downtown Chicago, the site of the planned Chicago Spire, at the confluence of Lake Michigan and the Chicago River, has sat vacant since construction ceased in the wake of the Great Recession. In the next few years, the site will be home to a new two-tower residential development, 400 Lake Shore.