"SB 827 only promoted the kind of housing we DON'T need- luxury towers that gentrify, further inflate real estate prices, and undermine our power to negotiate community benefits like affordable housing and funding for transit." -@TenantsUnionSF #SB827 https://www.facebook.com/AdamKimSF/posts/209513919645468 …
SF has approved around $410M in its entire history in affordable housing bonds, which at $300K per unit in taxpayer subsidy is not that many units. The controller is reluctant to give a blessing to a larger bond bc it would delay seawall earthquake retrofit and other needs.
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Meanwhile, existing single-family homes have appreciated, or gotten $300K less affordable in the last year alone. We can subsidize some units, but even if we increase bond size, it will be tiny.
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