San Francisco is facing a severe housing crisis, with a shortage of affordable housing for low- and middle-income residents. In response, the city is proposing to put a $300 million housing bond on the March 2024 ballot.
The bond would fund the production and preservation of affordable housing, with a focus on the following areas:
- Units already in the pipeline: The majority of the bond, $225 million, would go towards funding 1,500 units of affordable housing that are already in the pipeline. These units are expected to be completed within the next five years.
- Supportive housing for domestic violence survivors: $50 million of the bond would fund the construction of 250 units of supportive housing for domestic violence survivors. This housing would provide safe and affordable housing for survivors and their families, as well as access to supportive services.
- Preservation of aging affordable housing sites: $25 million of the bond would fund the preservation of aging affordable housing sites. This would help to ensure that these sites remain affordable for low- and middle-income residents.
The bond is expected to be spent by 2028-29. If the bond is approved by voters, it would be the largest investment in affordable housing in San Francisco’s history. It would help to address the city’s housing crisis and make San Francisco more affordable for all residents.
San Francisco’s proposed $300 million housing bond is a significant investment in affordable housing. If approved by voters, it would help to address the city’s housing crisis and make San Francisco more affordable for all residents.
