Backyards: the underutilized housing opportunity?

LA Mas, an urban-design non profit in Los Angeles, has come up with an innovative approach to maximizing property ownership in a way that addresses affordable housing issues: let people build rental units in their back yards and get financial incentives if they rent to Section 8 voucher holders.

"The project is enabled by recent regulatory changes in Los Angeles. By starting with single-family homes, it meets L.A. where it’s at—a sprawling city with nearly half a million single-family lots. “There’s just a lot of space in Los Angeles,” as Timme says. Homeowners get access to loan capital to finance construction, an opportunity to add significant equity to their home, a potential stream of rental income, and administratively, a single point of contact to help navigate a network of city agencies and nonprofits. (The first round of applications for the program closes today, and interest has been high.)"

We have lots of backyards in San Jose. Read the whole thing here.