Three Builders Send Help

By Bill Lurz, Senior Editor
March 1, 2005
Professional Builder

The California Association of Realtors (CAR) recently published its year-end housing affordability index, showing the percentage of households that have the ability to afford a median-priced home in that state. The index fell to 19 percent from 23 percent the previous year.

The median price of a single-family home in California increased 18 percent in December over that month a year earlier, to $474,500. The price of a median condo increased to $391,000, up 26 percent from a year earlier.

At press time, the Rivermark partnership — an entity created by Centex Homes, Shea Homes and Lennar Communities — was preparing a check for $180,000 to the Housing Trust of Santa Clara County, as part of an agreement to pay HTSCC $200 from the sale of each home in the Rivermark master-planned community in Santa Clara.

The Housing Trust has invested $447,000 in RiverTown Apartments, a 100-unit affordable rental complex in Rivermark.

"These three builders are demonstrating their concern for the whole community as they develop homes within our community," said Carl Guardino, chairperson for fundraising and communications at HTSCC. "Their creative, innovative approach to investing in the Housing Trust should be emulated by every home builder in our valley."