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kimmaicutler's profile
Kim-Mai Cutler
Kim-Mai Cutler
Kim-Mai Cutler
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@kimmaicutler

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Kim-Mai CutlerVerified account

@kimmaicutler

Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.

San Francisco
medium.com/initialized-ca…
Joined April 2008

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    Kim-Mai Cutler‏Verified account @kimmaicutler Feb 20
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    If you wanted to buy an existing old $750K unit, you’d need to have $150K as a down payment and be able to afford $3,800 in monthly payments. Developers don’t build affordable in SF bc production costs are too high. They can’t absent large taxpayer subsidyhttps://www.nytimes.com/2020/02/20/us/California-housing-costs.html …

    9:18 PM - 20 Feb 2020
    • 19 Retweets
    • 126 Likes
    • pablo Michael Levinson Urban Walker 🏙 Land Johnston Spike is working on some stuff Uma Chingunde Emily Nakashima Gaming Grandpa 🚲🥑🚎 prop. 15 or consequences
    7 replies 19 retweets 126 likes
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      2. Kim-Mai Cutler‏Verified account @kimmaicutler Feb 20
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        Kim-Mai Cutler Retweeted Mark Hogan

        Some quibbles about cost breakdown here. https://twitter.com/markasaurus/status/1230718865253916674?s=21 …https://twitter.com/markasaurus/status/1230718865253916674 …

        Kim-Mai Cutler added,

        Mark Hogan @markasaurus
        Yet another article perpetuating the myth that construction workers are overpaid by claiming they make $90/hr, which is actually a billing rate. They make around $25-$35/hr. https://nyti.ms/2Vb6kcq 
        Show this thread
        3 replies 0 retweets 9 likes
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      3. Kim-Mai Cutler‏Verified account @kimmaicutler Feb 20
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        Kim-Mai Cutler Retweeted Economic Institute

        But it’s otherwise consistent with overall costs per unit in affordable housing projects the city has seen in the last few years. https://twitter.com/bayareaeconomy/status/1228402450853330944?s=21 …https://twitter.com/BayAreaEconomy/status/1228402450853330944 …

        Kim-Mai Cutler added,

        Economic Institute @BayAreaEconomy
        It’s no secret that building housing in the #BayArea is expensive. In 2019, the average construction cost of new below market rate housing in the Bay Area was an astonishing $664,455 per unit! Read more about it here: http://www.bayareaeconomy.org/how-much-does-it-cost-to-produce-one-unit-of-below-market-housing-in-the-bay-area/ … #HousingCrisis #BayAreaHousingCrisis pic.twitter.com/VpcoLy58L4
        2 replies 0 retweets 9 likes
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      4. End of conversation
      1. New conversation
      2. Chris Tolles‏ @tolles Feb 20
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        Replying to @kimmaicutler

        Since you’re the most knowledgeable here — are there any circumstances you see in being able to lower costs per unit?

        2 replies 0 retweets 1 like
      3. Kim-Mai Cutler‏Verified account @kimmaicutler Feb 20
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        Replying to @tolles

        Why yes but I’ll can share more later....

        0 replies 0 retweets 10 likes
      4. End of conversation
      1. Visit Camberwell #AnalyseTrafficOrigin With #ANPR‏ @visitcamberwell Feb 20
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        Replying to @kimmaicutler @mateosfo

        Also depends whether developments not comfortably near PT hubs are zero car. If so, there is scope for more units (devaluing through supply) & those units will be less desirable to those who can't operate without private car ownership (again devaluing). #NaturallyAffordable

        0 replies 0 retweets 0 likes
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      1. francesco deparis‏ @fdeparis Feb 21
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        Replying to @kimmaicutler

        I don’t believe this article mentioned the lack of density in the Bay Area either. San Francisco for the most part is comprised of many low rise buildings. I think @kimmaicutler posted a heat map a couple years ago of height distribution across the city.

        0 replies 0 retweets 2 likes
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      1. Patrick Chang‏ @appetiteforgood Feb 21
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        Replying to @kimmaicutler

        Ceqa objections & process problems is also the same or worse for non affordable housing. The cost of construction is even higher for regular developers w/ all the impact fees. The myth dev make a fortune in sf is not true. Majority struggle to get financing bec it’s unprofitable

        0 replies 0 retweets 6 likes
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      1. Jake Seliger‏ @seligerj Feb 21
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        Replying to @kimmaicutler

        LA has similar problems.http://seliger.com/2017/08/30/l-digs-hole-slowly-economics-fills-back-proposition-hhh-facilities-program/ …

        0 replies 0 retweets 0 likes
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      1. Jim‏ @jim_again Feb 21
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        Replying to @kimmaicutler

        Land (building rights) is typically 30-40% of unit cost at market rates, and we’ve done just about everything possible in the Bay Area to restrict supply and increase that cost.

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