How to Solve the Housing Shortage Leora Tanjuatco Organizing Director Housing Leadership Council leora@hlcsmc.org
Three things: Rent stabilization and tenant protections Build more affordable housing Build more market-rate housing
A short history of affordable housing
Pruitt-Igoe Green spaces invited their children to play and clean contemporary décor made residents feel, according to a woman quoted in the documentary, like they were in ‘a big hotel resort.’ - Source: The Pruitt Igoe Myth
What happened?
Modern affordable housing: stand-alone
Modern Affordable Housing: mixed-income No services Lower levels of affordability Less affordable units Less funding sources Market-rate developers don’t typically have experience managing below-market-rate units
Why is it important to build market-rate housing? San Jose Mercury News July 7, 2017 Menlo Park-based Facebook intends to develop 1.75 million square feet of offices, 1,500 units of housing, 125,000 square feet of retail space including a pharmacy, as well as a cultural and visitor center.
SF Business Times October 10, 2017 Genentech also has two buildings under construction — an eight-story, 160,000-square- foot office and amenity building at 500 East Grand Ave. and five buildings on a childcare campus at 342 Allerton Ave. Both projects are scheduled to be completed in 2019.
Where will these employees live?
Renters have two main options:
Why is more Market-rate Housing good for Tenants? Together – more housing + rent stabilization More tenants = more political power Facebook employees in RWC
Discussion