San Francisco expected to miss affordable housing allocation
SocketSite is reporting that San Francisco’s goal of building a little more than 31,000 housing units between 2007 and 2014 is not going to be achieved. The goal was determined by the California Department of Housing and Community Development in conjunction with the regional Association of Bay Area Governments.
According to SocketSite, there have been nearly 12,000 market-rate units built between 2007 and the first quarter of 2014. That places housing production for those with household incomes exceeding 120 percent of the area median at nearly the full Regional Housing Needs Allocation (specifically, 97 percent). That goal was 12, 315 units. But as the site notes, the market-rate component only comprises 40 percent of the city’s overall housing needs allocation.
Instead, as of the first quarter of 2014, a total of 6,085 affordable housing units have been built in the city since 2007. That’s slightly less than 32 percent of the goal, with slightly less than 13,000 units left to be built in the ensuing nine months. The goal had been to build at least 18,878 affordable units by year-end 2014 for those with household incomes up to 120 percent of the area’s median.
In today’s Planning Director report to the Planning Commission, there is a table representing completed units and development projects in the current residential pipeline as of the first quarter of 2014. That table shows that given the total units built, the city is 111.6 percent in excess of its goal – but other figures, as we’ve discussed, show that affordable housing is taking the hit in favor of “above moderate income” housing, which is 211.7 percent in excess of the goal.
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