San Francisco Mayor Unveils New Affordable Housing Plan

San Francisco Mayor Edwin M. Lee addressed his city’s ongoing struggles with housing affordability with a new plan to create more than 10,000 affordable housing units by 2020, the most critical component of the Mayor’s 2020 housing goals.

“San Francisco’s housing crisis demands our continued, aggressive leadership, and with this clear blueprint of making more than 10,000 affordable units available to low and middle income families and residents, we are delivering on our promise to keep San Francisco a city for everyone,” said Mayor Lee.

The new plan–which the mayor dubbed as a “blueprint”–combines the preservation and rehabilitation of existing housing with efforts to stabilize neighborhoods facing housing-related upheaval. The plan also calls for the inclusion of more affordable housing units within market rate developments and a new push to produce permanently affordable units.

“From those at-risk of displacement to those living in public housing to low-income families, we are increasing production of affordable housing, stabilizing neighborhoods, and increasing affordability for our city’s families,” the mayor added. “By 2020, new affordable units will be in place in growing neighborhoods like SOMA and Transbay. And more will be stabilized in at-risk neighborhoods like the Mission and Chinatown. This November’s proposed $310 million affordable housing bond that does not raise property taxes will provide additional resources we need to increase production of permanently affordable housing up to and beyond 2020.”