When rents go up, an even tinier, more exclusive slice of people can afford to stay or arrive in SF. And that affects rents for even people in so-called affordable units, because their govt-restricted rents are based on AMI, or area median income.https://twitter.com/louismirante/status/1139605315937136640 …
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Have seen them pull this a million times over and over and over again.https://twitter.com/kimmaicutler/status/1141407309475667968?s=21 …
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Today in the Board of Supervisors being anti-housing. A hearing on an ostensible anti-demolition bill that the SF Planning department says will change minor processes that today get over-the-counter permits to *9-12 month-long* conditional use processes.https://twitter.com/_fruchtose/status/1141768158140743680 …
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If you claim you're for more housing, then why make creating new housing even more incredibly complicated and unpredictable in a city with the highest construction costs in the United States?
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It costs $700-800K and takes 5 years to build *one* unit of affordable housing. $200-300K of it usually has to come from the city with the rest from state/federal. Teacher/middle-income housing often can't tap federal/state so it has to be funded locally.https://link.sfchronicle.com/click/17275030.202405/aHR0cHM6Ly93d3cuc2ZjaHJvbmljbGUuY29tL2JheWFyZWEvYXJ0aWNsZS9IZXJlLXMtd2hhdC1hZmZvcmRhYmxlLWRldmVsb3BlcnMtbXVzdC1kby10by0xNDAyNjQyMS5waHA_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9YnJpZWZpbmcmdXRtX2NhbXBhaWduPXNmY19iYXlicmllZmluZ19hbQ/5bd0c4812c885e77326ad0d4B500817f5 …
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average median income. Subsidized housing charges rent based on AMI, so rents to low income subsidized tenants