How? SB35 alone can speed up a lot of development.
The last real building boom was in the 60s for multi family… since then costs and regulations have made multi family in the BA affordable only for the wealthy…
Housing for the poor has to be subsidized… That’s why condos were invented in the 70s… Multi family was no longer affordable… The poor should be given subsidies for existing class C buildings… New construction should have height limit restrictions eliminated… There is not enough flat buildable land.
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Not when they also passed rules on the percent of affordable units.
My Sacramento building was built in 1973
Nobody can build like that today… It would cost five times its worth to replace… Rents are $1000/unit
New construction would have to rent for $2500/unit to pencil… Who will pay the difference?
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There is a 110 unit BMR project being built in Oakland… $55m
$500k per unit… only possible with government subsidies…
UrbanCore Development secured a $29 million construction loan commitment from Chase Bank, the largest chunk of funding.
Additionally, $12 million in funding came from the City of Oakland, $1.25 million in subordinate debt from the Commonwealth Multi-Family Housing Corp., $10 million from the State Affordable Housing and Sustainable Communities program, $9.7 million in tax credit equity from the Royal Bank of Canada and $2.5 million from Alameda County.
Point is the 40% BMR projects cannot it be built without huge tax increases…
Why not let builders build market rate housing with higher height limits and higher density… doesn’t cost tax payers at all… offer subsidies to the poor for existing housing in the burbs.
Goes to my earlier point in another thread. If you can buy multi-fam @ < $500k/unit in the bay area (and most 4-plexes are there), you will make money in the medium-long run as new construction will cost more…
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Multi family in Sacramento is available at $75k per unit… A lot better chance for cash flow and appreciation there than the BA
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I am weary about owning multi-fam in BA. I think rent control will ensnare the whole area. It’s just a matter of time.
Another reason why Sacramento is a better bet
At least they are doing something at the state level.
I am pretty sure conservative people won’t touch any real estate coming from the democrat government in CA…right? 
Legalized inlaw units will not affect home price much due to many requirements, you homeowners can have your peace of mind.
“To the great surprise of nobody except politicians and their creatures, prohibiting the construction and rental of affordable housing did not do much to help poor people in Dallas connect with affordable housing. It did help to drive them out of neighborhoods such as Oak Cliff, where houses on formerly downscale blocks now sell for more than a half-million dollars and young-ish white professionals drive their European cars past the last few beto signs still buckling in the wind.”
“So Dallas has decided to legalize the granny flat — subject to enough rules and regulations to ensure that this has approximately zero impact on the housing market. The political mind at work again: Dallas studied Austin’s granny-flat liberalization program, which over the course of several years saw 200 units come onto the market, some of them new construction but mostly the rental of properties that hadn’t been rented before. Austin has almost 1 million people. Dallas copied the Austin model — on purpose , knowing that it would produce negligible results.”
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Granny units won’t solve much . SF supposedly encourages them. About 60 have been built in 2 years. There is supposedly150k units potentially in the BA. Probably 300k units of new housing units are needed. FAKE News
Raise your hand, how many of you rent the garage? 