San Francisco has gained or approved for construction more than 10,000 affordable homes in the past decade, but The City has also lost nearly half of that stock in the same time period.
That’s according to the latest Housing Balance Report, which will be presented to the Planning Commission today.
The report, the third in a series stemming from an ordinance approved by the Board of Supervisors last year requiring city planners to monitor housing units amid the recent development boom, covers the 10-year period from Jan. 1, 2006 through Dec. 31, 2015.
The City’s housing balance is at 18 percent, according to the report. That’s a slight increase from the 15 percent as of last September when the second of such reports was released.
The report is intended to determine whether 33 percent of new housing units are below market rate, as urged by a nonbinding proposition passed by voters in 2014.
The housing balance is calculated by taking the number of affordable homes, including those that have recently been approved for construction as well as acquisitions and rehabs in the past decade, and subtracting the number of affordable homes lost in that same amount of time.
That number is then divided by the total number of net new homes within that decade to achieve the housing balance percentage.
The report also breaks down the housing balances for each supervisor district, revealing negative balances in neighborhoods like the Richmond, the Marina, North Beach, Russian Hill, Nob Hill, the Sunset, Lake Merced, and the Excelsior, where more homes were removed from protected status (like rent control) than net new housing.
The largest negative balance during that 10-year period was negative 181.2 percent in District 4 (the Sunset), which saw just 10 new affordable units come online compared to 357 homes removed from protected status.
The report is slated to be heard before the Board of Supervisors April 18.