California Governor Gavin Newsom and Democratic legislative leaders advanced an $11.25 billion housing bond measure on Friday, steering it toward the November statewide ballot. The bond aims to boost affordable homebuilding across the state.

The measure would fund construction of low- and moderate-income housing, infrastructure for new developments, and assistance for first-time buyers. Newsom's office said the bond responds to California's persistent shortage of affordable units and rising home prices that have driven residents out of the state.

The proposal advanced through legislative committees as lawmakers worked against deadlines to qualify measures for the autumn ballot. Assembly and Senate Democratic leaders backed the package, though some Republican legislators questioned the cost and long-term debt burden on taxpayers.

Housing advocacy groups, including the California Housing Partnership, welcomed the move, arguing the funds are essential to meet state-mandated production targets. Critics warned that bond financing alone would not resolve regulatory barriers and local zoning disputes that slow construction.

If approved by the Legislature and voters in November, the bond would represent one of the largest state housing investments in recent years, with money distributed to cities and developers over multiple budget cycles.