Peskin Proposal Aims To Lower Costs In Red-Hot SF Housing Market
SAN FRANCISCO (CBS SF) -- One San Francisco lawmaker is looking to put a plan in place to stop rising costs in San Francisco's super-heated rental market.
Affordable housing is on the minds of nearly every Bay Area resident.
And Supervisor Aaron Peskin is offering solutions for renters in San Francisco.
Peskin is proposing what he calls a "100 percent affordable alternative" that would include a housing and small business preservation.
Under the plan, no demolition of existing housing or small businesses would be allowed.
Peskin believes his proposal, along with Prop C, will help the city's housing issue.
"Here locally, we are trying to adopt an alternative that would utilize under-utilized sites for development of 100 percent affordable housing," explained Peskin.
Prop C is on San Francisco's June 7th ballot. If passed, the measure would impose affordable housing requirements.
A "yes" vote for Prop C would support changing the city's charter to increase requirements for affordable housing developments. A "no" vote would leave the city charter as is.