The Math Behind the Monster Doesn’t Make Sense

4 02 2015

Read the full article in the San Francisco Business Times by reporter Cory Weinberg here.

Image Credit: Skidmore Owings & Merill

Image Credit: Skidmore Owings & Merill

In an insightful article published recently, The San Francisco Business Times shows how the percentage of affordable housing proposed for the 16th and Mission project, and currently in the pipeline for the Mission as a whole, falls dramatically short:

7.1 percent: That’s the percentage of affordable housing units that have received approvals in the Mission compared to market-rate units – and it’s pretty dismal. Nearly 500 units are entitled and waiting to finish in total, but only 34 affordable units built as a result of projects’ inclusionary housing requirements have been entitled. This broader neighborhood picture is out of Maximus’ control, but still contributes to some of the venom surrounding its proposal.

The Council of Community Housing Organizations crunched that percentage from the city’s housing pipeline report, helping to underscore why advocates want to reject new housing units at 16th and Mission that would cost $5,000 a month to rent.

‘People in the Mission don’t even want to talk about new market rate until we get to a better balance,’ said Fernando Marti, co-director of CCHO. ‘We can’t have a serious conversation about 16th and Mission until we talk about what’s the right balance for the Mission and how is the city going to make sure it gets there. Otherwise it’s a site-by-site fight.'”