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The city released the first draft of its new zoning code, which sets higher minimum floor-area ratios for new buildings.
The draft, released late Thursday, is expected to undergo multiple revisions before it is finalized. After the city council and public weigh in, the council will approve it. Then, the new code will go to the mayor for signature.
But City Attorney George Dossett tells Curbed SF that the drafting process is likely to take more than a year and would begin as early as March or April.
Here’s the background on why the city wants to adopt a taller, denser plan for new development:
The beginning of the story
In 2013, the city passed the Neighborhood Housing and Planning Act, an attempt to prevent the Bayview Hunters Point neighborhood from becoming a more blighted, weed-infested suburban neighborhood. The act imposed new density requirements on new buildings, but existing buildings were exempt.
As a result, new construction was scaled back in the wake of the bill, and today, the housing market is soft. Dossett told Curbed SF that the city is in the process of transferring $1 billion in existing pension obligations from BART to the new Alameda County Transportation Authority. While Dossett said that the city anticipates that the delays in building are set to subside as soon as the pension transfer is completed, he’s less optimistic about whether or not the market will stay soft for the next few years.
“I think the most likely scenario is that we’ll have a very strong market for a few years, and then the market will soften,” Dossett said. “I think we’re behind the curve as a city in terms of the amount of new homes that are being constructed. It’s been very hard to get financing, and I don’t see any reason to believe that it will get significantly better in the near future.”
To help ease the housing crunch, the city is proposing to do what it can to increase the supply of housing. 0b46394aab