Some quibbles about cost breakdown here. https://twitter.com/markasaurus/status/1230718865253916674?s=21 …https://twitter.com/markasaurus/status/1230718865253916674 …
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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 …
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Since you’re the most knowledgeable here — are there any circumstances you see in being able to lower costs per unit?
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Why yes but I’ll can share more later....
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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).
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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.Thanks. Twitter will use this to make your timeline better. UndoUndo
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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
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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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