California has hundreds of affordable housing projects that are ready to build, but they cannot close the money gap. Morris Village in Modesto plans 44 affordable apartments, with half set aside for unhoused people. The project has spent six years chasing grants and loans, but sits just short of having enough funding to break ground. A new Enterprise Community Partners report says about 39,880 units sit in the same limbo. The report estimates California needs about $4.1 billion to clear the backlog. Developers say local approvals have improved, and federal tax credits have grown. California lawmakers are also considering a $10 billion affordable housing bond for the 2026 ballot.
