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San Francisco Considers Moratorium on Market Rate Development
Rendering of a Mission District Development that recently added four affordable units
The affordable housing crisis in one San Francisco neighborhood has gotten so dire that city officials considered temporarily halting the construction of residential development there altogether.
The San Francisco Business Times reported Wednesday morning that a 45-day moratorium on market-rate development in the Mission District of San Francisco failed to pass the Board of Supervisors in a close vote Tuesday evening.
The 45-day moratorium would have stopped the city from approving or issuing permits for any market rate multifamily housing in the Mission District. It failed to pass after an eight-hour hearing in a 7-4 vote. Nine votes were needed.
Advocates hoped the ban would pressure city officials into finding a long-term solution to the city’s growing housing affordability issue. However, some supervisors voted against it, believing it’d do more harm than good and that a long-term solution can be found without the temporary ban. High rent prices have caused approximately 8,000 Latinos to move out of the neighborhood.
The moratorium would have delayed about $7.2 million in fees that developers pay to the city in lieu of building affordable units. That money is supposed to be used for other affordable housing projects. Ultimately, because of this, supervisors who voted against the ban, said the delay of the money would have harmed the same population the ban is supposed to protect.
Instead, the mayor’s office and some neighborhood advocacy organizations are pursuing a multifaceted plan of rezoning, fundraising and a potential $250 million housing bond which they hope will result in longer-term relief.
A ballot initiative will come to vote in November if advocates acquire 9,400 signatures in support, meaning this may not be the last we hear of the moratorium.
This article originally published at https://dc.urbanturf.com/articles/blog/san_francisco_considers_market_rent_development_ban/9959.
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