California voters approved Proposition 1 on Tuesday, authorizing $11.25 billion in state bonds to fund affordable housing programs across the state, including at the UC.

Proposition 1 passed with 59.3% of the vote as of 11:15 p.m., the Associated Press announced Tuesday. The measure sets aside $350 million to help construct affordable student housing, divided evenly between the UC and California State University, according to the Legislative Analyst’s Office. The measure is expected to fund up to 1,200 beds for students.

It is not yet clear how much of the UC’s financial share will go to UCLA, as the university’s existing student housing capacity is relatively large, said Shane Phillips, the housing initiative manager at the UCLA Lewis Center for Regional Policy Studies. UCLA is the only UC campus to guarantee four years of university housing for students.

[Related: Prop 1 seeks to fund affordable housing, raises fiscal concerns for Californians]

Some of the measure’s largest allocations include $5.1 billion toward building and renovating multifamily rental housing and $2.1 billion to purchase, rehabilitate or maintain affordable housing. The measure will also provide supportive housing for people experiencing homelessness and allocate $1.25 billion to support home loans for veterans.

More than 180,000 Californians are unhoused, according to CalMatters. The bond is projected to provide subsidies for up to 40,000 multifamily rental units and help up to 40,000 households with homeownership, according to the Legislative Analyst’s Office.

Supporters of the measure – including Governor Gavin Newsom and the California Democratic Party – said the bond will expand housing access for Californians. The California Apartment Association and the American Federation of Labor and Congress of Industrial Organizations also endorsed Proposition 1.

Some Republican lawmakers opposed the proposal and questioned whether the state should take on additional debt to fund housing – arguing that the amount dedicated to veterans was disproportionately small compared with the bond’s overall value, according to CalMatters.

The program is expected to cost the state $500 million to $600 million each year for 25 years to repay the bond, according to the Legislative Analyst’s Office.