Props 1 and 2 win approval

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California voters in Tuesday’s election approved Propositions 1 and 2, CAA-supported bond measures that together are expected to raise $6 billion, add much-needed affordable housing and help address the state’s homelessness crisis.

With 100 percent of precincts reporting, Proposition 1 had garnered 54.1 percent of the vote, while Proposition 2 had secured 61.1 percent.

Proposition 1 will authorize $4 billion in general obligation bonds for housing-related programs, loans, grants and projects, as well as housing loans for veterans.

The California Apartment Association’s Board of Directors supported both Props 1 and 2, which it considered better approaches to the state’s housing crises than Proposition 10, a rent control measure that CAA opposed and voters ultimately rejected.

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