The “workforce housing” created by the city of Huntington Beach will bring decades-long financial problems and drive costs of rent even higher, according to Casey McKeon, a real estate developer and former finance commissioner of the city.
Huntington Beach’s “workforce housing” is a type of government-subsidized housing initiative to artificially lower rent prices on the buildings purchased by the city through its “joint powers authority,” or JPA. As a type of agency consisting of one or more city or county governments, JPAs can exercise authority and pull resources together for a joint municipal project.
