California Apartment Landlords Dump Properties Ahead of Rent Control Vote

By Laura Kusisto : wsj – excerpt

Investors, housing advocates gear up for a fight, expected to spend tens of millions of dollars on campaigning

A push to expand rent control in California is sending a chill through the state’s apartment industry, prompting more investors to sell properties or hold off on buying.

Ben Lamson, whose family owned just under 100 apartments in the Inland Empire area in southern California, said he has sold about 70 units and is in contract to sell the remaining ones. He is taking all the money and investing it in properties in the Las Vegas area, he said…

“These renter groups are starting to speak out and say, ‘These rents are ridiculous.’ They’ve gotten more organized than they ever have been,” he said. “I started getting a little freaked out or a little scared or concerned [that] this could really happen.”.

In late April, a coalition of housing advocates said they submitted some 595,000 signatures, more than enough to get a measure on the ballot in November to repeal Costa Hawkins, state legislation that prevents cities and towns from imposing rent control on buildings constructed after 1995 and on single-family rentals.

Both sides are gearing up for a fight and are expected to spend tens of millions of dollars on campaigning… (more)

The threat of returning rent control decisions to the local governments by repealing  state controls seems to be having some effects already.

Advertisements

Can Big Tech Be Tamed?

by Gary Kamiya : modernluxury – excerpt
(includes Photo-illustrations of Tech Titans by Clark Miller)

As the tech industry grows to unfathomable proportions, San Francisco needs to grow to match it. A call to arms for a city under siege.

I. A MIGHTY RIVER

Cities, it’s been said, are like rivers, and San Francisco has always been a leaping, unpredictable one, constantly jumping its banks and fed by the most varied and unlikely springs. I’ve been splashing in this unruly current for almost half a century. But several years ago, something happened upstream. A great deluge of money of a magnitude not seen since the bonanzas of the 19th century began to crumble our protective levees, hoisting San Francisco’s skyline, swamping its housing, stalling its traffic, and profoundly altering its character…

The combined market value of Apple, Facebook, and Google’s parent company, Alphabet, all headquartered within 40 miles of downtown San Francisco, is more than $2.2 trillion—about the same as the gross domestic product of Italy, the eighth-largest economy in the world… (more)

 

 

SF supervisors thumb noses at SB 827

By Michael Toren : missionlocal – excerpt (includes video)

Board of Supervisors candidate Sonja Trauss escorted off by sheriff’s deputy after wading into crowd of opposing protesters

Sonja exposed

Trauss exposed. Officers separated the two sides though they did not stop the vocal YIMBY chants from disrupting the speakers. Trauss exposed photo by zrants.

Following dueling press conferences, protests and counter-protests, the Board of Supervisors on Tuesday went on record about SB 827, Sen. Scott Weiner’s bill in the California legislature that would reduce restrictions on height and density for residential developments near transit lines.

Kim-Arron.jpg

Jane Kim and Aaron Peskin spoke in opposition to SB 827 photo by zrants

They don’t like it… (more)

Scott Weiner’s SB 827 loses. Residents, homeowners, and city officials win this Will Scott Wiener and the rest of our representatives in Sacramento get the message Aaron Peskin tried to send that the help we need from the state is: Repeal Costa-Hawkins, Amend the Ellis Act and send buckets of money to help solve the homeless problem. We do not a state takeover of local jurisdiction and constant CEQA amendments. There are hundreds of entitled projects in the pipeline that are stalled for physical reasons that have nothing to do with permitting.

As anyone attempting to do any repairs, remodeling, or building knows, there is a severe labor shortage in the construction industry, and importing foreign labor is not easy. There is a shortage of materials and costs are going through the roof due to federal manipulations and an impending trade war. Higher interest rates are drying financing options. The legislation may want to consider how to solve these problems instead of harassing local communities.

RELATED:

Wiener endorses Breed as battle over SB 827 heats up

Move puts state senator on the same side as group that has attacked his longtime friend and mentor, Mark Leno… (more)

SB 827: Land grab in South L.A. communities of color

Not since the “Urban Renewal” projects of the 60s has something so radical and detrimental been proposed…

You will be hard-pressed to find a bill in the state legislature proposed by a Democrat that is a bigger threat to the stability of our community than SB 827, authored by state Sen. Scott Weiner, R-San Francisco…(more)

Note these Southern California residents refer to Senator Wiener as “Republican Senator Scott Weiner”.

We don’t need to destroy the Sunset to save San Francisco

By Jane Kim : medium – excerpt

State politicians have been rushing forward a “transit oriented” housing proposal that will allow virtually unlimited construction of luxury condos throughout San Francisco.

The proposal is Senate Bill 827 (SB 827) and it allows developers to build up to 8 stories of luxury housing in areas that meet “minimum levels of transit service.” 96% of San Francisco’s parcels, including the Sunset, Richmond, Excelsior and Chinatown meet this standard. And the proposal upzones our entire City without increasing developer contribution to transit, parks, schools or other services critical to sustaining our neighborhoods. This is not how we build housing or grow livable cities…

Meanwhile, the cities who refuse to invest in public transit aren’t required to build any new housing. In fact, SB 827 rewards bad actors who refuse to build public transit or housing — sorely needed throughout the region. The Sierra Club California opposes this “pro-environment” bill writing, “While infill development near transit is the most desirable option, we believe that [SB 827] is a heavy-handed approach to encourage development that will ultimately lead to less transit being offered and more pollution generated, among other unintended consequences.”…

This plan is a failure. We can build more housing without destroying our neighborhoods...(more)

 

No Vacancy for the Homeless

By Joe Eskenazi ; sfpublicpress – excerpt (includes audio link and graphs)

Dozens of Residential Hotels Have Rooms to Spare, but Officials Cannot Force Owners to Rent

Every night, thousands of San Franciscans have no place to sleep. And yet, every night hundreds — possibly thousands — of single-room occupancy hotel units are left empty.

According to the latest count, 4,353 people were living unsheltered in our city. Among them, 1,020 were between 18 and 24 years old. If, by some alchemy, the city could beam them into these empty rooms, the entire population of homeless youths and a decent number of older adults could be indoors by nightfall…

Over the past 20 years, San Francisco has underwritten the price of thousands of formerly homeless residents’ rooms in private hotels run by nonprofits. But now it is a seller’s market. Hotel owners can charge upward of $2,000 for rooms in hotels formerly occupied by the down and out. Other owners are holding those rooms empty, perhaps in search of an even bigger payout down the road when they sell their buildings…(more)

 

SF mayoral hopefuls, minus Breed, hold heated housing debate

One candidate in the San Francisco mayor’s race wants to shake out the pockets of real estate developers. Another wants to sue speculators who he said are putting people out on the street. A third called for a rigorous analysis of the city’s housing stock… (more)

The mayoral candidates have some good ideas to share. Let’s hope that whoever wins, these ideas are considered for development. Please comment on the source if you can.

Campaign trail: Wiener’s upzoning bill becomes issue in SF mayor’s race

by tim redmond : 48hills – excerpt

Screen-Shot-2018-02-11-at-8.07.12-PM

Most of San Francisco would be up-zoned to by SB 827, as indicated by the orange areas on this map, supplied by the Planning Department.

Kim takes a strong stand against measure that would raise height limits and density all over town

Scott Wiener’s bill to strip cities of local zoning and allow more housing density is becoming an issue in the SF mayoral campaign…

Sup. Jane Kim held a rally this morning in West Portal, with neighborhood leaders denouncing SB 827.

Her move comes after Supervisor Aaron Peskin put forward a resolution urging significant amendments that may lead to a statement of formal opposition.

The Planning Commission heard a presentation on the bill this afternoon.

Wiener appeared on KQED’s Forum this morning, saying that his bill is about “un-banning apartment buildings” near transit stations…

Kim told me today that she can’t envision any amendments that would make the measure acceptable…

So far, London Breed is a full supporter of SB 827.

Mark Leno says he can’t support the measure as it’s currently written, but is open to amendments:…

The supes will vote on the Peskin measure soon. The Los Angeles County Democratic Party voted unanimously to oppose it. This one isn’t going away…(more)

%d bloggers like this: