New Apartments in Perris
By Connor Forbes
As a growing city scrambling to keep pace with equally growing housing needs, the City of Perris is taking a step toward addressing the deficit.
The Charlie Perris Apartments, located at 2700 N Perris Blvd, are now open adding 229 one, two, and three-bedroom apartments to the city’s inventory. A significant need locally, across the southland and beyond.
With tight zoning regulations and permitting requirements contributing to escalating construction costs, California has seen a deficit of new single-family homes being built. The Great Recession beginning in 2007 exacerbated the housing crisis as funding dried up and many home builders stopped building new homes or went out of business entirely.
The answer to the problem is simple on paper – more housing needs to be built. And while single-family homes continue to be builders’ preferred units, multi- family options are dwindling and becoming less popular to construct.
According to Redfin the average cost of a single-family home in Riverside County is $611,500 and in Perris $560,000. That is almost 30% and 22%, respectively, higher than the national average of $435,051.
With a limited supply of housing, and high demand, prices are driven ever higher. High housing costs are a leading factor in discouraging California investment from businesses, encouraging businesses to move to other states where employees can live more affordably and comfortably.This is amplifying functional poverty, and leading to the nation’s worst homelessness crisis, per a CalMatters report.
Buying a home is out of the question for many Californians and multi-family options provide good housing at a more affordable price point.
And with more housing, the pressure on demand is met with supply and prices can normalize.
The Charlie Perris Apartments are a step in the right direction of a problem that no one city or housing development can address.
“Thank you so much for being in Perris. We appreciate you coming to our city and bringing housing for our community,” Perris Mayor Michael M. Vargas commented at the recent grand opening. “Housing is much needed in Perris, and we are grateful to have new and long-lasting partners who can help meet that need,” Vargas added, referring to Los Angeles-based LaTerra Development, the developers of Charlie Perris.
LaTerra managing Director Chris Tourtellotte acknowledged the firm’s commitment, stating, “Perris has been so welcoming and supportive throughout this development, and we look forward to working together for years to come.” The Charlie Perris currently is at 20 percent capacity and is accepting applications for new tenants. Visit thecharlieperris.com for more information, including pricing, floor plans, and amenities.
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