As part of a legislative package that seeks to rezone parts of San Francisco to facilitate more housing development, Mayor Daniel Lurie introduced Housing Choice San Francisco, a new local housing bonus program. An optional alternative to the state’s density bonus program, the local housing bonus program provides market-rate developers with a variety of options to include affordable units as part of their projects.
Among the options are onsite affordable housing, paying an affordable housing fee, dedicating land or units off-site, or providing 100% rent-controlled buildings.
Lurie’s rezoning package, called the Family Zoning plan, proposes updated height and bulk zoning rules to support more housing and a wider range of building types. It also would establish new policies to encourage the creation of housing near public transit, including changes to parking and density standards.
The Family Zoning Plan is intended to allow the city to control its own destiny by meeting state thresholds while directing and shaping growth in ways that preserve its unique neighborhoods, according to Lurie’s office.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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