Letters: North Sacramento homeless shelters are depressing property values

Re “In fight against homelessness, Sacramento has no time for NIMBYs. That includes you, Land Park” (Editorials, Sept. 29): I am a resident of Woodlake and am writing with regard to Mayor Darrell Steinberg’s proposed homeless shelters at Railroad Drive and Arden/Evergreen Way in North Sacramento. As first time buyers my wife and I purchased our house in Woodlake this June after almost a year of hunting in a red hot real estate market. Mayor Darrell Steinberg announced proposed shelters and the market here crashed immediately. Now we could not sell our house if we wanted to, and with these shelters coming we would sell if we could. I estimate that we have already lost around 10 percent equity which is equal to about $40,000 and we will lose more in the future if these shelters are built. We are actually considering selling and losing our life savings and going back to renting. It is a terrible position to be in after working so hard to save this money. After attending three council meetings and three community meetings I have heard no evidence to support the efficacy of these shelters. Nor have I heard of any solutions that will mitigate the grave risk these shelters pose to the neighborhoods they will border. Besides health and safety hazards, there are obvious economic concerns which have not been addressed. I put to you that the loss of residential and commercial real estate value in the area may be equal to the tens of millions of dollars. The mayor’s office has offered $500,000 towards commercial development which is a figure so tiny by comparison that it’s barely worth mentioning. My question: How do you justify asking us to sacrifice so much?

Stuart Gow, Sacramento