Early last year, the California Department of Housing and Community Development (HCD) approved San Francisco's eight-year housing plan, which requires the city to add 82,000 housing units between 2023 and 2031, or about 10,500 new homes each year.
According to preliminary data from the U.S. Department of Housing and Urban Development, the city is off to a bad start: San Francisco issued 1,136 residential building permits in 2023, the lowest total since the Great Recession that followed the global financial crisis, when only 779 permits were issued.
The number of permits issued last year is less than half of the annual average since 2001 of 2,476 units, based on HUD data reported by the San Francisco Business Times.
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