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City Manager's Office
City Manager's Office
Press Contact: Matthai Chakko, (510) 981-7008

AFFORDABLE UNITS AVAILABLE SOON! APPLY NOW!
Apply with Property Manager by September 29, 2019, for Lottery

Berkeley, California (Tuesday, September 17, 2019) - The Panoramic Berkeley, located on Telegraph Avenue south of campus, will be taking lottery applications through September 29 for six very low-income units created through a City affordable housing strategy.  

Given the high cost of construction and land, the creation of low-income units subsidized by a larger market rate development is a critical way to increase the amount of affordable housing units.2019-09-17 AFFORDABLE UNITS AVAILABLE SOON!  APPLY NOW!

The 70-unit Panoramic Berkeley, located at 2539 Telegraph, includes six apartments restricted to very low income households - those making no more than $43,400 to $66,950 a year, depending on the unit type.  

To be entered into the lottery, interested applicants must complete and submit a rental application and affordable housing questionnaire at PanoramicBerkeley.com by 5:00 PM September 29, 2019. You can also find more details on their site. 

No applications will be accepted after this deadline - there will be no exceptions. The lottery will be held the evening of September 30th.

Typically, landlords can set any rent when a tenant vacates, even for rent-controlled units. However, rents set by the City's Below-Market-Rent program are permanently set below market rate, regardless of turnover. (Rents created through this program do increase as the U.S. Department of Housing and Urban Development's established income thresholds increase.)    

The City requires that 20% of the units in market-rate developments be made affordable to very low income households or that the developer pay a $38,000 fee for each unit in the project that would go to a fund for affordable housing, the Housing Trust Fund. For projects approved prior to June 27, 2017 such as the Panoramic Berkeley, 10% of the total units are reserved for very low income households if the fee is not paid.

The City also has a requirement for new ownership/condominium projects which requires that 20% of the total units be reserved for purchase by moderate income households.

The City's Housing and Community Services Division performs a number of services to create affordable housing, such as providing low-cost loans, connecting affordable housing developers to grant funding, creating new leases of City land, providing key City services to residents, and executing legal agreements and assisting with other essential steps. The City doesn't own or operate any housing. To learn more about affordable housing resources in Berkeley, visit www.cityofberkeley.info/affordable.

For all questions on the application process and lottery for the six very low income units at the Panoramic Berkeley, please visit PanoramicBerkeley.com.

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