S.F.'s Affordability Problem
Costs to live in S.F. are at an all-time high, which led to a sold-out ULI S.F. event on affordability at the Omni last week. There was some disagreement on whether the solution to the affordability crisis is to build more, but consensus is that low to very-low income households have the greatest need. Above, Emerald Fund chairman Oz Erickson moderated the panelists, Community Housing Organizations co-director Peter Cohen, S.F. Office of Economic & Workforce Development PM Sarah Dennis-Philips, and S.F. Housing Action Coalition exec director Tim Colen.
In order to satisfy such need, panelists suggested change needs to begin with new and creative ways for funding projects, as well as with the city’s process to pass affordable housing legislation. (At Bisnow's recent Residential Real Estate event, AGI Capital prez Eric Tao said a novel new solution in the works is a Stabilization Trust Fund.)