"I don’t believe that private developers will ever build housing in SF that’s affordable to low-income and working-class people," writes Tim Redmond. "That’s not how capitalism works."
@48hills
Can someone correct me if I’m wrong?
Wasn’t the developer gonna build 450 market rate units and 250 affordable units? And now instead, in the hands of city/non-profit developer, they are gonna make 200 affordable units now instead? Right?
@48hills
It's not a question of "capitalism" or "developers". It's a question of construction cost. Packing more units into a place that already has 17k people per square mile is going to be very, very expensive. Simple solution -build where it's cheap.
@48hills
It's up there with: "I just don't believe we should have them in our neighborhood. I don't hate Black people. That's not how racism works."
(Psssst! If not developers who shall build it? Tim Redmond? )
That *is* how housing works.
You want it? You pay someone to build it.
@48hills
Obviously & ultimately, cost to build per unit matters.
Maybe 48 hills thinks losing lots of money per building is how to run a sustainable business? Or perhaps they'd pitch in to work for free/low wages?
@48hills
95% of all homes in California today were built by a developer for profit. Housing was affordable until we stopped making it profitable to build.
@48hills
Well, obviously.
And here is four “YIMBY” politicians protesting against increasing temporary *shelter* beds this week. They’re even more irate about low-income public housing. As always.