Prop. C | Calco Commercial, Inc.

Category: Prop. C (2)

Aug

SF CRE News: Prop C / Affordable Housing Feasibility Study Findings

Earlier this year, residents of San Francisco passed Prop C–a measure increasing the on-site affordable unit count of new housing developments to 25% from 12% (on residential developments of 25 dwellings or larger). Click here for more details regarding Prop C: PROP C

Last week, The San Francisco Business Times reported that a feasibility study, completed in conjunction with the Controller’s office, suggests that Prop C could hurt the housing stock by discouraging new residential developments–thereby decreasing the overall amount of available housing.

The The San Francisco Chronicle reported that a final submission of the feasibility study will be submitted by the Controller’s Office to the Board of Supervisors in September. Supervisors Jane Kim, Aaron Peskin originally supported the measure.

Jun

San Francisco CRE News: Voters Double Affordable Housing Requirements

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).