Lee will propose a seven-point plan that includes building housing over existing city facilities and doubling the amount of down-payment assistance that the city will provide to middle-income home buyers, up to $200,000. Lee wants 5,000 new homes built or rehabilitated each year over the next six years.
With the city's economy growing, construction is already speeding up. This year, more than 10,000 housing units are under construction or are holding building permits and are ready to be built, according to city figures. Another 12,000 units are in the permitting pipeline, with an additional 25,000 part of already adopted development plans, Lee's administration said.