Cultural Action Network shared PODER (SF)'s photo....
Today's Sunday Examiner Joe Fitzgerald Rodriguez writes a featured article on Bicis De Pueblo.
"On a recent foggy Saturday morning in the Excelsior, Evelyn Ruiz, 32, walked into San Francisco Community School’s yard with her son Pablo, 4, who confidently rode a Spider-Man-themed bike, training wheels and all. Ruiz emigrated from Guatemala when she was a teenager and attended Newcomer High School. She quickly joined PODER. But contrary to the popular saying, Ruiz had, indeed, forgotten how to ride.
“I had heard about [Bicis Del Pueblo] a long time ago actually, when it started,” she said, noting her initial reaction to the program. “That’s for kids, that’s for teenagers.” Flash-forward to this summer: Ruiz brought her 17-year-old brother, Kevin, to Bicis Del Pueblo to learn to ride. Ruiz said her young son would stand by watching and shout, “Yeah, Mama, you’ve got it!”
#bicicletando #hechonocomprado #doittogether #bikeequity #communitycooperative #bicisdelpueblo #bikeshare#sfbike
A surface parking lot behind the federal courthouse at Seventh and Mission streets in San Francisco will become the site of the city's largest housing development for formerly homeless people, thanks to a deal struck this week between city officials and the federal government. The city will lease th...
The Mission District is calling for its second “moratorium.” Though a 2015 proposal called on city leaders to stop market-rate development in the neighborhood, citing gentrification fears, this newest moratorium …
Yes, Housing Development Sites Really Are Selling for $200-250,000 Per Unit
It's called "Residual Land Value" - the most basic calculation of real estate economics.
(1) Start with the Price you can get for new housing @ "What The Market Will Bear." (2) Subtract ALL the costs of development of every kind, except the land. (3) Subtract the absolute minimum profit you need to make to go through the trouble and risk of being a developer (which often winds up just hoping to break even). (4) What's left is what you can pay for the land and have the project "pencil out."
These days, that works out to at least $200K or more per unit in SF. this is a provable fact based on actual land sales.
What the economically-uniformed YIMBY's haven't realized is that, therefore, the huge windfall profits from the huge increase in housing prices/rents of the last 8 years since the Great Recession have mostly in fact gone to land owners (and price-gouging construction companies). so when we increase any development costs, such as the newly increased 18% SF Inclusionary Affordable Housing requirement, it does not make the price of housing go up - that's already at the max of "What the Market Will Bear" and will always stay there (which is driven by the buying power of renters/buyers, now the highest ever thanks to the Bay Area's runaway economic boom). instead eventually it will push land prices back down commensurately.
But land prices are "sticky" because most land owners can just sit on their property hoping for future higher values (thanks in part to Prop 13's ridiculously low frozen property taxes), so it takes some years - and especially a Recession - before they face such new economic realities.
on the other hand, when property is up zoned - like the new 35% State Housing Density Bonus - that makes land commensurately more valuable immediately! so guess which outcome is actually kicking in here in SF right now?
Don't be surprised if the land market hits $300,000 per unit by next year.