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SF Supervisors approve affordable housing development boost

New development projects (and projects in the pipeline) now face increased inclusionary housing requirements.
Cliff notes:
Per the policy approved Tuesday, projects have to add on top of the existing 12% an additional 1% if they filed in 2013, 1.5% if filed in 2014 and 2.5% if filed in 2015. The rate bumps are expected to generate about 200 additional below-market-rate units. New projects would have to hit 25 percent of the units at below-market-rate.
Read the full report here.

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