SAN FRANCISCO—While new housing development proposals for San Francisco are in the news on a weekly basis, the city’s housing shortage remains an issue, and one that could actually impeded development, according to a recent article in the Wall Street Journal.
The paper said Tuesday that there is backlash against development from locals who fear getting priced out of their own neighborhoods and completely out of the city.
In June, voters approved a measure requiring a citywide vote for certain large developments along the waterfront. The Journal notes that this new power could loom over two large projects that had been considered likely gain city approval.
Meanwhile, some developers are opposing a measure set to go to voters this fall that would encourage at least 30% of new housing to be earmarked for low-income families. Developers say that would slow production.
San Francisco’s debate is being echoed in other large US cities where renewed prosperity is driving up rents on longtime residents, including New York and Seattle.
The article describes the administration of San Francisco Mayor Ed Lee as “trying to strike a balance,” noting that the mayor has pushed a plan to build 30,000 new units by 2020, and that the city wants about half of them to be for lower income families.
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