SB 423 not only extends SB 35 to 2036 but also expands its fast-track approvals

[Felicia Nitu]

SB 423 extends SB 35 to 2036 and expands its streamlined approval process to more mixed-income housing projects. By enforcing objective standards and broadening eligibility, it removes roadblocks that slow construction in high-need areas.

How SB 423 Speeds Up Housing Development

// Stronger Approval Requirements
· Cities must approve qualifying projects that meet objective design and zoning standards, preventing unnecessary delays.
· Discretionary reviews are eliminated, ensuring faster and more predictable approvals.

// Expanded Housing Access
· More areas, including previously restricted zones, qualify for streamlined development.
· Projects can include a mix of market-rate and affordable housing, increasing overall supply.

// Workforce & Affordability Protections
· Developers must provide prevailing wages and healthcare for larger projects, ensuring fair labor practices.
· Cities behind on housing goals must allow more affordable units to be built, addressing shortages.

What Does This Mean for Real Estate Agents?

With faster approvals and more eligible projects, agents will see increased listings, quicker transactions, and new investment opportunities. Understanding SB 423 helps agents guide clients toward high-potential properties.