Affordable Housing Requirements Could Double In S.F.
A San Francisco supervisor introduced a charter amendment yesterday that would more than double the city's affordable housing requirements if passed by voters in June. Affordable housing has been a hot topic in San Francisco in recent months with several projects' approvals hinging on their affordable housing components.
The amendment would require market-rate projects to provide 25% as affordable housing, up from the 12% currently required. Instead of allowing developers to build 20% of units off-site or pay a fee equal to 20% of the value of the units, Supervisor Jane Kim's proposal would increase that to 33% for both the off-site units or the fee, according to the San Francisco Business Times.
The amendment also would give the board of supervisors the power to make future changes without putting them before voters. [SFBT]