Why a Mission Housing Moratorium makes sense:
“A new report released Friday shows just how limited the land is in the neighborhood and what is likely to occur if development is not “paused,” helping to explain why Mission community leaders are fighting for the proposal.
There are currently 13 sites located in the Mission on which 40 or more units of additional housing could be developed, the report from The City’s budget analyst found. These are considered the key parcels for nonprofit below-market-rate developers who can receive federal funding for developments of that size.
Supporters of the moratorium want The City to buy these parcels. These sites could generate a total of 851 below-market-rate units. But if developed by private developers, just 102 of the 851 units would be offered at below market rate. And that’s only if the builders elect to meet The City’s housing construction requirement that 12 percent of the units on site are offered at below market rate. Developers can also pay fees to skirt that requirement.
There are also 324 sites in the neighborhood on which five or more units of additional housing could be developed. If all of these sites were developed, that’s 4,240 new housing units. Looking at historical trends, just 293 of the more than 4,000 units would be offered at below market rate.
In the past five years, 60, or just 9.6 percent, of the 627 units constructed in developments of all sizes in the Mission were offered at below market rate, the report said. The report also found that of the below-market-rate units built in the Mission between 2010 and 2014, none were for those of the lowest income levels, but instead lower and moderate incomes.
There are currently 90 developments comprising 1,227 new units planned for the Mission, of which 1,060 are covered by city development requirements. If developers include 12 percent of those 1,060 units at below market rate, that would be about 127 homes.”
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