Merced city leaders hoping to fix low apartment vacancy rate by building more apartments

MERCED, Calif. (KFSN) -- If you are looking for a place to rent in Merced, chances are, you might not find anything anytime soon.

"This is the tightest it's been for at least for the last 15 years or more," said Loren Gonella, Coldwell Banker Gonella Realty.

Gonella said they manage more than 800 units, but right now, Gonella said they only have about nine units available

"It's a little bit of a challenge for us right now in order to find units to accommodate the people that want to rent."

But the city is hoping to fix the growing pains in Merced-- the city's planning commission recently approved the plan for the new University Village Apartment Complex in north Merced. The complex would have 225 multi-family apartment units, along with space for retail opportunities. This is one of four complexes the city is hoping to bring in response to UC Merced's 2020 expansion project.

"The city is preparing to meet the need for housing here locally with an estimate of 800 multi-family units and 700 homes over the next three years," said Stephanie Dietz, Assistant City Manager.

An apartment complex along Yosemite Avenue and R Street has already been approved by the city, and is already underway.

The city currently has a one-percent vacancy rate-- realtors are also working with student housing organizations and general builders to bring more housing to Merced.

But if you are looking for a place to rent soon, plan ahead and act quickly.

"The days of walking in a saying, I need a place today, you might find quite challenging," said Gonella.

The apartment complex is not set in stone yet-- the city council still has to approve the project. That decision is expected to happen in June.