Real Estate

Ballot propositions for affordable housing in San Francisco battle it out

Realtors are backing Proposition P to bring in more development bids

There are two competing propositions on the ballot in San Francisco that both claim to be the solution to the city's affordable housing problem, according to an article by Emily Green for the San Francisco Chronicle.

The problem is, each of these propositions is competing against the other, as one of them even cancels the other out.

From the article:

One is the brainchild of the local Realtors association. The other is a countermeasure by the progressives on the Board of Supervisors. Both have political motivations, and both would have major policy implications.

Proposition P, which the Realtors are pushing, would require the city to consider at least three bids when contracting with affordable housing developers. Proposition M, by the progressives, would render Prop. P void and also create a housing commission to oversee responsibilities currently handled by the mayor’s office.

While some say that Proposition P would only slow down the process, supporters say it would encourage more builders even outside the city to bid on developments, according to the article.

On the other hand, Proposition M would void the first proposition, even if it passes, and create a council that would oversee all big developments that have public-private partnerships.

Either way, both propositions are all about politics, according to the article.

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