Prop C–a controversial ballot measure that would require new housing developments to increase their “affordable housing” units from 12% to 25% has been passed by San Francisco voters.
What does this mean for the future of residential developments in San Francisco?
According to The San Francisco Business Times, developers and those groups opposed to the measure argue that additional requirements under Prop C will slow development and make housing more expensive, while supporters believe the measure will bring much needed affordable housing to a city where 64% of the population rents (source: Bay Area Census).
