The California Apartment Association officially recommends a yes vote on Proposition 1 to its members, slated for the March 5, 2024, statewide ballot. This measure responsibly taps existing tax revenue to support mental health and substance abuse treatment services. It includes issuing $6.38 billion in bonds for supportive housing and mental health treatment beds.  

Proposition 1, with its focus on Californians facing severe mental health, homelessness, and substance use challenges, directly contributes to the well-being of communities. Reducing homelessness and improving neighborhood safety aren’t only the right things to do; they can lead to more stable communities and protect property values for both homeowners and investors in rental property.    

The initiative’s minimal impact on California’s budget, at less than 1%, showcases its cost-effectiveness, making it an appealing proposition for the real estate sector and the broader business community.  

Endorsed by a broad coalition, including bipartisan political support and business groups like CalChamber, Proposition 1 is a balanced and comprehensive strategy for improving the state’s approach to mental health and housing challenges.