Working collaboratively to address critical housing needs
North Lake Tahoe is a treasured gem that offers unparalleled natural beauty and year-round outdoor recreational opportunities. Add in its close-knit community and it’s no wonder so many people love calling this paradise home. However, the reality of living in this idyllic area comes with a significant challenge: the rising costs of housing. Over the last few years, prices soared and supply remained low, leaving many locals behind.
Many of eastern Placer's employers rely
on employees who face a shortage of affordable rental options and are
often forced to live far from work or in overcrowded situations.
According
to the 2023 Mountain Housing Council Regional Housing Needs Assessment, there
is a pressing need for 8,197 housing units to accommodate the local population
in the North Tahoe/Truckee region. This significant shortfall not only
affects individuals and families looking for homes but also threatens the
overall economic stability and community fabric of the region.
To alleviate these issues, Placer County is working with its partners to increase the
availability of housing options for a variety of income types, including
changing codes and policies, addressing legislation, creating financial
incentive programs and building new homes.
We Want to Hear From You!
County Projects and Programs Timeline
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Timeline item 1 - active
Workforce Housing Preservation Program
A homebuyer program for local workers that pays homebuyers up to 16% of purchase price towards a down payment in exchange for deed restricting their home.
- Feb. 2021 - The Placer County Board of Supervisors approve program and funding
- Oct. 2023-Apr. 2024 - Program paused
- Apr. 2024 - Workforce Housing Preservation Program resumes with updated guidelines
- Apr. 2024 - Approved for TOT-TBID Dollars at Work funding
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Timeline item 2 - active
Hopkins Village
A for-sale housing development in Martis Valley designed for local workers offered at a sale price of $615,000 to the local workforce and at market rate to local employers.
- 2021 - Project ground-breaking
- May 2023 - Placer County's Board of Supervisors agreement approved a revised sale price agreement with the developer
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Timeline item 3 - active
Lease to Locals Program
This program provides Tahoe property owners cash incentives to convert their properties into seasonal and long-term rentals for local workers.
- July 2022 - The Placer County Board of Supervisors approved this program
- Aug. 2022 - Lease to Locals program begins
- Sept. 2023 - Additional funding approved through TOT-TBID Dollars at Work program
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Timeline item 4 - complete
Meadow View Place
56 affordable housing units opened in Martis Valley in 2021.
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Timeline item 5 - complete
Kings Beach Housing
77 units of affordable apartments opened in downtown Kings Beach in 2013.
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Timeline item 6 - complete
Sawmill Heights
96 apartment units, including 12 affordable studio units opened near Northstar Ski Resort in 2007.