At least $5 million could be poured into affordable housing in South Lake Tahoe after city leaders began considering spending money toward a 79-unit affordable housing project, Tuesday night.
South Lake Tahoe thrives off of service workers.
Employees of restaurants, stores and hotels drive the economy of a city visited by 15 million people every year.
However, too many workers can't afford to live there says Zachary Thomas, the city's Housing Manager.
"Affordable housing is a critical need. It really is a challenge for everyone,” Thomas said before pointing out the impact it is having on people who work both in the private and public sector.
It is why Thomas is asking city council to consider pouring money toward the affordable housing project, which would be built along Ski Run Boulevard and Pioneer Trail.
The money would pay for construction costs.
"Basically, what that would do is help subsidize the project and help with lower rents on the back end,” Thomas added.
It is one of many affordable housing projects in the works, including a 248-unit affordable housing complex that’s in the financing stage, according to Thomas.
However, locals like Ed Mosur believe more needs to be done.
"More affordable housing has been destroyed than has been created over the last 10 [to] 15 years. We had mobile home parks that were taken out,” Mosur said.
The median home value sits at just under $700,000, according to Zillow.
In another study, the average cost of a one bedroom is $1,450, a 32% increase from last year.
"Without adequate housing, cities [and] communities don't function,” Thomas told 2 News.
The project could break ground in 2023.
