FOR IMMEDIATE RELEASE
April 10, 2024
Contact: Grecia Mannah-Ayon, [email protected], (818) 967-3079

Note: Transform’s analysis was updated in June 2024, to incorporate updated estimates on new housing built vs. preservation and protection of existing units.

Oakland—Over the coming weeks, the Bay Area Housing Finance Authority (BAHFA) will consider a $10-20 billion housing bond to be put before voters in November 2024. Transform analyzed data provided by the Metropolitan Transportation Commission (MTC) to determine the potential climate impact of building more than 40,000 new affordable homes near transit. The results show that this regional housing bond will not only help alleviate the Bay Area’s affordable housing crisis but also result in a major reduction in greenhouse gas emissions.

Specifically, the regional housing bond will:

• Build 40,831 units within a half mile of transit. Almost three-quarters of the 72,000 units financed by the bond are expected to be within easy access to existing transit.
• Generate over 5.7 million additional transit trips annually. Low-income households are often forced to live far from transit in the Bay Area. Lower-income households drive nearly 50% fewer miles when living within a quarter mile of frequent transit.
• Reduce GHG by 3 million metric tons. The new housing financed by this bond will lead to 10.3 billion fewer miles of driving and a carbon emission reduction equivalent to taking about 17,000 cars off the road each year.

“Building affordable housing near transit will increase ridership, reduce GHG emissions, and support healthy, sustainable communities,” says Grecia Mannah-Ayon, TransForm Housing Policy Manager, who led the analysis. “Everyone deserves to live in an affordable and connected community. It’s the right thing to do for our communities and our environment.”