The article concentrates on new construction but hits on older, rent controlled (RC) housing units also. These are referred to as "below market rate."
Inclusionary zoning regulations on new construction make "below market" units available at the expense of the market rate renters who must pay more to make up for the subsidies.
RC units are those where rents are already "below market" rate. In these cases, landlords are responsible for rent subsidies for all their units.
One bad law begets another bad law to fix the holes in the first so that housing shortages in SF are, and will stay, a fact of life until all retrograde housing regulations are abolished and a true (fair) market rate exists. At this point, the state, county or city can offer housing vouchers to people in need, subsidized by all taxpayers.
The most terrifying words in the English language are, "I'm from the government and I'm here to help. " -- Ronald Reagan
Housing Watch is Mission Local’s attempt to keep track of all the new development in the neighborhood. We’ve pulled data from the Planning Department and created maps and lists of the planned and completed projects in the neighborhood, linking to stories we’ve written about them.
Selected Comments:
Ricardo
I really enjoyed reading this article. Lots of good useful information. I think we all have to remember that all units build and occupied are affordable units. If they were not affordable they would sit empty. $5,000 a month for a luxury two bedroom is affordable. The below market rate is screwing up the market.Bob Evans
They really should stop spinning the subsidized units as “affordable” Because they are not magically affordable. They just force someone else pay to for them, they are SUBSIDIZED !noaharroyo
Not necessarily subsidized. When a developer builds a large project, the city’s Inclusionary Program kicks in, requiring that at least some of those new homes be “affordable” — there are caveats to this. And “affordable” means the developer can only price them up to a certain level. For rental units, that level is 55% of the median income for this region — again, there are caveats. For example, if you, alone, snagged an “affordable” apartment this way, then the developer couldn’t legally price it higher than what an income of $37,350 could afford.But you’re right, some of the affordable housing is subsidized, such as the entire buildings of reduced-priced units owned and operated by nonprofit orgs.Ian Smith
>Not necessarily subsidized. When a developer builds a large project, the city’s Inclusionary Program kicks in, requiring that at least some of those new homes be “affordable” — there are caveats to this. And “affordable” means the developer can only price them up to a certain level.So subsidized by the developer, who can eat those cost or increase the price of the non subsidized housing, which means they are subsidized by the purchases or those units.Someone is paying for those affordable housing units, and whoever that is, is subsidizing the cost.
How does one apply or become approved for an affordable housing unit in those areas? I would love to be able to live there.
