Source: www.bizjournals.com | Re-Post MNM Partners, LLC 11/29/2016
The Bay Area is going to need housing to accommodate more than 800,000 additional households in the 30 years to 2040, says the latest update to Plan Bay Area, the controversial regional forecasting document that is used to assign housing targets to cities and counties.
The draft update was approved by a joint committee of the Association of Bay Area Governments and the Metropolitan Transportation Commission Thursday, sketching out the blueprint for transportation and housing growth in the Bay Area over the next quarter century.
The proposed plan calls for 3.4 million households in the region by 2040, representing about a 30 percent jump from 2010 numbers which translates to approximately 820,000 new households. It also represents a 100,000 increase from Plan Bay Area’s 2013 projections.