The city is starting to put forward potential measures to combat the stratospheric hike in local real estate values for renters.
Last week District 8 Supervisor Scott Weiner put forth proposed legislation allowing developers to add density to residential developments if more affordable units are added to the mix. City guidelines require 12 percent of units in new residential buildings be affordable. Weiner's proposal would reward developers that increase the affordable units to 20 percent by allowing more units be built overall. Will this alleviate upward pressure on rents and prices in the Haight? Not likely, since our 19th Century neighborhood lacks suitable development sites. One exception is the Girls & Boys Club on Page Street, which is slated to be demolished in preparation for a modern residential building. Like everywhere else in San Francisco, investors think the Haight is hot. The mixed use corner building on Haight & Ashbury that houses Cafe Deluxe (pictured above) sold last week for $8.5 million, which was $1.75 million over asking price price. As reported by the Chronicle, at the same time Weiner put forth his proposal, District 1 Supervisor Eric Mar proposed legislation that would potentially limit the transformation of rental properties (via eviction, etc.) into tenancies-in-common, which reduce the city's rental housing stock. What's your experience as a renter or owner in the Haight? What kind of housing solution do you think would improve renting in the Haight?
Last week District 8 Supervisor Scott Weiner put forth proposed legislation allowing developers to add density to residential developments if more affordable units are added to the mix. City guidelines require 12 percent of units in new residential buildings be affordable. Weiner's proposal would reward developers that increase the affordable units to 20 percent by allowing more units be built overall. Will this alleviate upward pressure on rents and prices in the Haight? Not likely, since our 19th Century neighborhood lacks suitable development sites. One exception is the Girls & Boys Club on Page Street, which is slated to be demolished in preparation for a modern residential building. Like everywhere else in San Francisco, investors think the Haight is hot. The mixed use corner building on Haight & Ashbury that houses Cafe Deluxe (pictured above) sold last week for $8.5 million, which was $1.75 million over asking price price. As reported by the Chronicle, at the same time Weiner put forth his proposal, District 1 Supervisor Eric Mar proposed legislation that would potentially limit the transformation of rental properties (via eviction, etc.) into tenancies-in-common, which reduce the city's rental housing stock. What's your experience as a renter or owner in the Haight? What kind of housing solution do you think would improve renting in the Haight?
