your candidate touted 40% affordability rates... that really were a couple hundred BMR units predicated on approving millions of sq ft of office space or thousands of more high-income workers that would've had nowhere to live & would've displaced more people into homelessness
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Hmmm it kind of sounds like for-profit developers will never really meet the city's housing needs, no matter what rules we put in place.
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You can also just not do anything and wait for your perfect social housing utopia and existing housing will become even more of a scarce luxury asset/commodity and do what it has always done for 40 years, which is double in value every cyclepic.twitter.com/YW0NoMR58w
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Otherwise be to make the %, they’ll do that. Case in point:
@calpers, aka the state workers’ retirement fund for public labor, won’t turn on financing for this developer until it can guarantee that costs/rents pencil out on this project with a 14% returnhttps://www.bizjournals.com/sanfrancisco/news/2018/02/06/exclusive-costs-are-stalling-anew-soma-housing.html …Thanks. Twitter will use this to make your timeline better. UndoUndo
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Ok, you can go back to your world where you can pretend to control profit on the ~2,000 units SF builds a year while the other 380,000 units totally don’t appreciate by 10% YOY. not a productive conversation anymore!
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