Developers in San Francisco must offer more below-market housing (sale & rental) or pay higher fees to the city, if a new law is passed. The Board of Supervisors want to make more housing affordable to lower income individuals, at or close to the newest residential developments. The idea is to prevent segregation of lower cost housing to certain neighborhoods of the city. The idea of a mixed income community may be good, but will it discourage development in a market which has been cooling?
The housing inclusionary law already exists in the city but the new law, expected to pass today, will up the percentages from 12-17% to 15-20%.
Source: San Francisco Chronicle
