A ballot measure next year could increase the requirements for below-market rate housing units that developers must provide or fund when building market-rate units in San Francisco.
Mayor Ed Lee and Board of Supervisors president London Breed called this week for a November 2016 ballot measure that would increase the percentage of below-market rate units from the current requirement that market-rate projects with 10 or more units make 12% of the units below-market rate, build 20% of affordable units at a different location, or pay into an affordable housing fund, according to SocketSite.
Lee says the strong economy means the city can require developers to build more housing for lower- and middle-income residents as a part of any new project. [SS]
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