More from an affordable housing developer here. These projects typically have a complex Jenga tower of 6-7 financing sources at the local, state and federal level. A delay here or there threatens the whole stack:https://twitter.com/sammymoss425/status/1140389776182222848?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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Cupertino Mayor Steven Scharf literally suggested this yesterday. He suggested increasing density above the required 15% whenever a developer goes above a certain density.
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