By ANNIKA HOM : missionlocal – excerpt

It could be one of the first projects to utilize a
dial-back of inclusionary units

The long game may just be starting to pan out for the developer brothers Chris and Brian Elsey.

After four years, a 149-unit group housing project at 401 South Van Ness Ave. near 15th Street moved one step closer to development on Thursday, when the Planning Commission unanimously approved a special permit the project needed.

The four-year process, however, also means the project can incidentally abandon its previous 25 percent affordability requirement and slash it to just over 15 percent, thanks to city legislation that took effect approximately two weeks ago…(more)

People are looking for proof that the state developer bills are decreasing affordable housing in the state and this is one of the first projects to take advantage of those bills. This is also proof that there is no incentive to build on these lots since the longer they wait, the better the deal gets for the owners. They started with a 20% affordable, now they are down to ten. If they wait another year, the incentives to build any will diminish along with the fees to pay for the infrastructure. Those are shifting from developers to the taxpayers. Say goodbye to your city or wait to be screwed by the state.