A developer wants to build 4,400 new homes there — one of the largest projects recently proposed in one of the country’s most unaffordable regions. The development would overlook a railway that drops riders into the heart of San Francisco in 15 minutes, reducing the need for cars and cutting the greenhouse gas emissions that come from them. State and regional leaders have endorsed the project. But its fate rests with Brisbane, a city of 4,700 people that annexed the property 55 years ago. And no one, not even the developer, thinks Brisbane’s residents will approve all 4,400 homes.
In many corners of Southern California, home prices have hit record highs. And they keep going up. In Los Angeles County, the median price in June jumped 7.4% from a year earlier to $569,000, surpassing the previous record set in May. In Orange County, the median was up 6.1% from 2016 and tied a record reached the previous month at $695,000. Across the six-county region, the median price — the point where half the homes sold for more and half for less — rose 7.5% from a year earlier and is now just 1% off of its all-time high of $505,000 reached in 2007, according to a report out Tuesday from CoreLogic.
California’s economic engine quieted in June as employers reduced their payrolls by 1,400, according to a report Friday by the state’s Employment Development Department. It was the second month this year that the state lost jobs. The unemployment rate stayed flat at 4.7%, the lowest rate since November 2000.. . . A net reduction of 1,400 jobs is slight compared with the state’s total employment of about 17 million non-agricultural workers. But it is another indication that 2017 could be a year of cooling for California’s typically bustling job market.
Marin County will continue to limit home building beyond what other regions of California are allowed under affordable housing laws after Gov. Jerry Brown signed legislation Friday afternoon. The measure, Senate Bill 106, lets Marin's largest cities and incorporated areas maintain extra restrictions on how many homes developers can build. Assemblyman Marc Levine (D-San Rafael) inserted the provision into the bill, which was tied to the state budget and didn't have to go through the regular committee process.
The proposal to build a major tunnel system under the hub of California’s waterworks won another approval Friday when the state finalized its environmental review of the project. “Today we are approving California WaterFix,” said Cindy Messer, acting director of the Department of Water Resources. DWR’s blessing was expected. But the long-planned project still needs a number of other permits, as well as the financial support of major water districts, before construction can begin.