Supervisors approve rules to create more affordable housing
Jul
26
From today’s SFGate,
The affordable housing regulations, contained in two pieces of legislation, would increase from 12 percent to 15 percent the units in new residential developments that must be rented or sold at below market rates.If developers choose to build the affordable units at a different location, they would have to construct them within a mile of the market-rate project, and the number of affordable units must equal 20 percent of the number of units in market-rate development. The current percentage is 17 percent, and the affordable units need not be near the market rates ones.
Developers also could elect to pay the city to let a nonprofit affordable housing developer build the necessary below-market units. [more...]
When is San Francisco going to figure out that forcing developers to make a minority of units cheaper just makes the rest of the units more expensive? The end result is cheap housing for a few, and housing for the average person gets even more out of sight.
If you really want affordable housing, make it cheaper and simpler for developers to build. We don’t ever seem to “get” that.
Anonymous at July 27th, 2006 at 7:06 am ( )That above is about the most sensible thing I’ve seen posted around here.
sf jack at July 28th, 2006 at 6:55 am ( )