How Measure P will help our housing market

How is building more homes a good thing?

The Valley's Edge Specific Plan, now Measure P, stands to help Chico's housing market beyond simply adding new homes. The VESP will help create a domino effect of opportunities across different segments of the market, ultimately benefiting first-time home buyers.

This plan starts at a crucial tier, with homes starting around $300,000, squarely aimed at lower income buyers. The plan also provides inventory for average and above average income homebuyers. By bringing inventory to this segment, it'll set off a cascade of housing movement. Here's how it works: as buyers move up into these new homes, their current, less expensive homes become available. This movement provides an opportunity for homeowners to trade up. As these owners vacate their homes, they free up inventory in the lower price bracket, allowing those in starter homes to upgrade. This chain reaction continues down the ladder, culminating in a significant benefit for Chicoans looking to buy their first home by bringing typically scarce affordable inventory to Chico.

Measure P's commitment to sustainable living, preservation of open spaces, and gift of parks and trails adds value beyond the physical homes, aligning with Chicoans love for blending nature and recreation. This is more than a specific plan, it's a catalyst for dynamic movement within Chico's housing market. It represents a thoughtful approach to urban growth, ensuring the housing needs across the spectrum are met while fostering a sustainable and inclusive community. Vote Yes on Measure P on March 5th.