For the first time in four years, the number of new homes built in San Francisco decreased in 2015 amid The City’s ongoing housing crisis.
Construction was completed of 3,454 new homes in 2014, while that number dropped to 2,472 in 2015, according to The City’s annual Housing Inventory Report that’s set to be discussed at Thursday’s Planning Commission meeting. This report highlights changes to San Francisco’s housing stock and is the 46th of its kind to be released.
That 28 percent decrease marked the first drop in the number of new homes built since 2011, when just 348 new homes were built that year compared to 1,082 in 2010.
The production of net new housing in 2015 — which includes new construction and new units added through the expansion of existing structures or the conversion of non-residential property — totaled 3,095, a 15 percent drop from 2014.
In 2015, there were 141 homes lost — one more than in 2014 — through demolition, including unit mergers, the removal of illegal units and conversions. Some 2,982 new homes were authorized for construction in 2015, a 22 percent decrease from 2014.
The number of new affordable homes built also dropped by about 30 percent, from 757 to 529 between 2014 and 2015, respectively. Those affordable units — about half of which are rentals that are affordable to low- and very-low income households — made up about 17 percent of new homes added to The City’s housing stock.