Martis Valley Workforce Housing

“More than a quarter of all Sierra Nevada homeowners live in homes considered unaffordable for their income level.” The State of the Sierra, 2007

Martis LakeThe lack of affordability affects more moderate-income households than ever before. In the Tahoe Truckee area, the situation is acute. The least expensive homes in the area are beyond the reach of even high wage earners. In February of 2007, the median sales price for homes on the North and West Shores of Tahoe exceeded $600,000. In Truckee, the median asking price for listed homes was $670,000. The area median income for a household of 4 people is about $65,000, allowing them to afford a $195,000 home.

Martis Valley Workforce Housing, an affordable housing project in the early planning stages, is located on an approximately 40 acre undeveloped parcel in the Placer County portion of the Martis Valley. The land was specified in 2006 to be available for workforce housing as part of the Martis Valley Settlement Agreement. The Settlement Agreement also created a workforce housing fund supported by transfer fees from the sale of nearby resort properties. Sierra Business Council was designated in the Settlement Agreement to be the facilitator of the planning process for the land.

Objectives

• To plan for a high quality neighborhood with a range of housing types from rentals to homeownership, affordable to a range of income levels
• To demonstrate a model planning and development process for workforce housing through out the Sierra Nevada region

Process
Sierra Business Council is working with the Martis Valley Settlement Fund Board to develop a planning process for the parcel.

For more information email Program Director Nancy Richards or call 530.582.4800 ext.21