A plan to require housing developers to provide twice the number of affordable units is set to be unveiled today.
In a report by BizJournals, San Francisco Supervisor Jane Kim will be announcing an amendment in the charter that will require all housing projects to deliver up to 25 percent of affordable housing units which is twice the previous requirement. The proposed increase would still have to be approved by voters on June and the city will still implement the current market-rate projects requiring developers and builders to sell 12 percent of the number of units they build lower than the expected market price.
For projects that wish to build these affordable housing units offsite, it is possible but instead of 12 percent they would be required to make it 20 or if they choose to, contractors can just pay the equivalent of the value of the homes. Kim's plan will further increase the number of units required for off-site construction and the fee to be raised to 33 percent for each unit. Also included in the proposal is an amendment in the charter that would give authority to the Board of Supervisors to make changes to housing policies without the need to ask for voters' permission every time.
In a report by Berkeley Daily Planet, Kim spoke at the board's meeting to discuss her proposal and she cited that at least 60 percent of residents of San Francisco need and are qualified to avail of affordable housing. She insisted that the people need the houses right now and that they need to act fast to ensure that these homes are filled quickly. Kim was quoted as saying, "We can't afford to wait any longer."
While the debate is expected to rage on until the proposal is voted on, many large construction projects have already began offering affordable housing beyond the 12 percent quota.
