Stable, affordable housing helps families put down roots in their communities. It also supports a strong local economy across Monterey, Santa Cruz, and San Benito counties.
To help California families find high-quality homes they can afford, the Packard Foundation is supporting the Monterey Bay Economic Partnership (MBEP) with a $450,000 grant to expand housing options and remove barriers that slow development of new homes.
MBEP has been working for a decade on solutions to make housing more attainable and affordable. It’s work that is greatly needed in the Monterey Bay region, where over a third of homeowners and about half of renters spend more than 30% of their income on housing. Without better housing options, the region risks losing the long-standing families and communities that call the area home.
“Adequate and affordable housing is essential to economic development, deeply entwined with economic health and workforce stability,” said Tahra Goraya, Monterey Bay Economic Partnership President & CEO. “Housing is the scaffolding that keeps businesses here and allows them to expand, the foundation that allows individuals to grow professionally and invest in their communities.”
MBEP’s work over the years has led to approvals for thousands of affordable new homes in the Monterey Bay region. MBEP works closely with builders, investors, local governments, and residents, and has been a leading advocate in the region for projects that support the housing needs of the region’s agricultural, hospitality, tourism, and healthcare workforce.
“Housing instability affects every part of a community and so do the solutions,” said Tamara Alvarado, Program Officer at the Packard Foundation. “When people can find a stable, affordable home, families can put down roots, children can stay in the same schools, and neighbors can fully participate in community life. MBEP’s regional approach to housing can help strengthen the Monterey Bay region so more people can thrive.”
MBEP will provide hands-on support to help advance at least 4,500 homes through local approvals, host homebuyer readiness workshops for first-time buyers, and work with local partners on practical steps that can speed up housing delivery through faster permitting and more predictable local fees.
The Packard Foundation has supported MBEP since 2017 with a total of $750,000 in grants. Across California, the Foundation works with partners to strengthen communities and expand access to stable, affordable housing. Together, Packard and MBEP are helping ensure the Monterey Bay region remains a place where people can find and stay in homes they love.
