Making Missing Middle Pencil: The Math Behind Small-Scale Housing Development
Published On June 21, 2024
This brief examines the financial feasibility of building missing middle housing, such as duplexes, fourplexes, and ten-unit buildings, in California. Using case study pro formas for missing middle housing projects in four different California markets, the authors find that most are not financially feasible under current market conditions. The paper presents findings from interviews with missing middle builders on the unique challenges for this market segment and identifies state and local policy changes that would help to encourage missing middle development.
Authors:
David Garcia, Terner Affiliate
Ian Carlton, MapCraft
Lacy Patterson, MapCraft
Jacob Strawn, MapCraft
Ben Metcalf, Terner Center
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