In what universe is $14B a major chunk of $110B and rising ? How does any serious person accept a figure like $700K per unit ?
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You can read all the bond reports from the $310M Prop A bond in 2014. Every unit is around $700K. Some more, some less depending density of the project, whether the land had to be bought or publicly owned, etc. https://sfmohcd.org/2015-affordable-housing-general-obligation-bond …
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... that seems... high
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Not sure how a reporter got the basic fact of cash on hand so wrong: It is over $110B. I guess you could call 12% ‘major’ but I wouldn’thttps://www.google.com/amp/s/amp.cnn.com/cnn/2019/02/04/investing/google-alphabet-cash-dividend/index.html …
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Buying all the homes in the south bay that pay less than $1,000 in property tax and flipping them to people who will build ADUs would double the housing stock and reset the legacy Prop 13 rates. Better than new units.
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Do you propose using eminent domain? Where are these people to live? Who will pay the permits and expedite the construction of ADUs?
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How much of that cost is legal fees from permitting and environmental review?
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With that balance sheet they could finance the units with 100% debt.
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