There are several housing developments that offer affordable units under the City of Redondo Beach’s Affordable Housing Program. These units are sold to low or moderate income households and must remain affordable for the required affordable period (usually 30 or 55 years from the time the unit was built). During this affordable period, any Affordable Housing Program unit that is sold must be purchased by an eligible buyer and the price of the unit must fall within an affordable price limit calculated by the City. Prices are calculated for affordability using the area median income as published by the State of California; this calculation is not driven by property values or other market conditions.
The City records a lien on each affordable unit that remains on title for the duration of the affordability period. The lien ensures that the City is able to enforce the Affordable Housing Program requirements, including the resale restrictions.