“In the right market we want to be as aggressive as we can, and build as much affordable housing as the market can allow,” Safaí said. But “you can’t get any units at all if no one is building.”
But discussion at Thursday’s commission meeting reiterated that it’s unlikely that slashing the inclusionary requirement alone is enticing enough to immediately get the 69 projects stuck in the pipeline up and running again.
Given that San Francisco is a majority renter town, and the city needs big projects like high-rises to chip away at aof building 82,000 new housing units, this raised eyebrows for some commissioners. But commissioners acknowledged a concept floated repeatedly in these discussions: 20 percent of zero is zero. Citing that the impact is greater when there’s “no production,” Commissioner Gabriella Ruiz ultimately supported the ordinance.Thursday’s ordinance called into question whether San Francisco risked further debilitating its affordable housing tools as the state demands more than 46,000 affordable units be built by 2031.
The ordinance could translate to a big loss of affordable units. Presently, a 100-unit building needs to include 22 affordable units, build 30 units off-site or pay a fee equal to 30 percent of the project to go into an affordable housing pot. Under the ordinance, a 100-unit building can include just 12 units, build 17 off-site units, or pay a fee equal to 16.4 percent of the project.
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