Upcoming Proposition “C” Could Have Big Effect on San Francisco Housing Development
June 6, 2016
In a matter of days, San Francisco voters will have the chance to vote on a referendum that could majorly impact the development of housing across the city and, depending who you ask, ease or exacerbate the Bay Area’s need for more affordable housing.
The San Francisco Chronicle reports that on June 7, voters will be able to vote on Proposition C, which will require housing developers to rent an unprecedented amount of its units at prices considered below market value.
Currently, the City Charter mandates that developers sell or rent at least 12 percent of its u