July
10, 2014
San
Francisco Business Times
By
Steven E.F. Brown
A civil grand jury found that San Francisco
Mayor Ed Lee's
stated goal of building or rehabilitating 30,000 housing units in the city may
not cut prices.
Lee's plan, which called for 10,000 of those
units to be permanently cheaper than the market rate for housing, was meant to
reduce the effects of a runaway
home price market, the Examiner
reports.
The article cites a July 7 report from the
civil grand jury, "The Mayor's Office of Housing: Under Pressure and
Challenged to Preserve Diversity," and calls the findings there "a
mixed bag."
The mayor's goal may not even be possible,
especially if 4,575 rehabbed Housing Authority units are not counted as part of
the 10,000.
A spokeswoman for the mayor told the Examiner
that Lee remains committed to the 30,000 unit goal.
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