What You Need to Know About S.F.'s Real Estate Ballot Results
Five propositions went before San Francisco voters yesterday that could affect real estate and development in the city. Here's what happened:
Prop A: The affordable housing bond
PASS: This one needed a two-thirds vote to pass, and it got it with 73.5% of voters in favor of up to $310M in bonds for construction, development, acquisition and preservation of affordable housing. 26.5% voted against the measure. The big selling point? Most likely that the bonds aren't supposed to raise taxes, since they're phased in as others are retired.
Prop D: Mission Rock, a 28-acre waterfront location south of AT&T Park
PASS: Though it only needed a simple majority to pass, voters were largely in favor of proceeding with plans for the S.F. Giants' Mission Rock development, showing it with 73.4% in favor of the measure versus 26.6% opposed.
Prop F: Restricting short-term rentals
FAIL: After all the debate and an $8M campaign from Airbnb against the measure, Prop F was voted down with 55% of votes against further restricting short-term rentals and prohibiting short-term rental of in-law units. 45% voted in favor of the measure.
Prop I: Halting market rate development in the Mission District
FAIL: On another contentious topic, voters decided the Mission District was better off allowing market rate development to continue. 57.3% voted against the measure to put a moratorium on market rate housing, which opponents claimed could increase rents by limiting housing. 42.7% voted in favor.
Prop K: Surplus city property
PASS: This was another measure with a strong majority of voters (73.3%) supporting expanding how city property could be developed to create more affordable housing for a wider range of incomes and allow some mixed-income projects. 26.7% were opposed.
Results are unofficial until all ballots are counted.