FOR IMMEDIATE RELEASE
April 10, 2024
Contact: Grecia Mannah-Ayon, gmannahayon@transformca.org, (818) 967-3079
Oakland—Over the coming weeks, the Bay Area Housing Finance Authority (BAHFA) will consider a $10-20 billion housing bond to be put before voters in November 2024. TransForm analyzed data provided by the Metropolitan Transportation Commission (MTC) to determine the potential climate impact of building more than 52,000 new affordable homes near transit. The results show that this regional housing bond will not only help alleviate the Bay Area’s affordable housing crisis but also result in a major reduction in greenhouse gas emissions.
Specifically, the regional housing bond will:
Build 52,347 units within a half mile of transit. Almost three-quarters of the 72,000 units financed by the bond are expected to be within easy access to existing transit.
Generate over 7.3 million additional transit trips annually. Low-income households are often forced to live far from transit in the Bay Area. Lower-income households drive nearly 50% fewer miles when living within a quarter mile of frequent transit.
Reduce GHG by 3.8 million metric tons. The new housing financed by this bond will lead to 13.3 million fewer miles of driving and a carbon emission reduction equivalent to taking almost 27,000 cars off the road each year.
“Building affordable housing near transit will increase ridership, reduce GHG emissions, and support healthy, sustainable communities,” says Grecia Mannah-Ayon, TransForm Housing Policy Manager, who led the analysis. “Everyone deserves to live in an affordable and connected community. It’s the right thing to do for our communities and our environment.”
Download the complete analysis and the full methodology.
TransForm urges BAHFA to place this critical measure on the ballot so Bay Area voters can make the commitment to a greener, more equitable future for housing and transportation.
TransForm works to ensure that people of all incomes thrive in a world safe from climate chaos, envisioning vibrant neighborhoods transformed by excellent, sustainable mobility options and affordable housing, where those historically impacted by racist disinvestment now have power and voice.
Read the full analysis:
