Supervisors Aaron Peskin and Eric Mar announced forthcoming legislation on Tuesday that would allow developers to build denser, taller buildings on certain lots around the city if the buildings are fully affordable.
The forthcoming legislation – announced at a press conference on Tuesday – is an alternative proposal to the widely discussed Affordable Housing Density Bonus Program, which would allow private developers similar height and density benefits for increasing the percentage of affordable units in a project.
The alternative plan would only grant a two-story height and density increase to projects that are fully affordable, which are often built by nonprofit developers with public financing. The added height and density would make building affordable units more economical for the developer, Peskin said.
That’s a full story less than the original density bonus proposal gave to fully affordable housing projects, which would be able to rise to three stories above height limits.
Under the original law, developers get an additional two stories above height limits and other density bonuses if they build an additional 18 percent of affordable units — above the 12 percent required by city law — on-site at middle-income levels. Most of the units in those projects would remain market-rate, however, and even some of the below-market-rate units were deemed too expensive by opponents of the law… (more)