Prop E is a measure that provides part of the solution towards San Francisco’s housing crisis. Sponsored by Todco, a nonprofit that manages affordable housing developments, the measure ties the city’s ability to approve new office development plans to the creation of affordable housing. Prop E would modify an older law, Prop M, which imposed an annual limit on office development. Prop M passed in 1986 after a number of tall towers abruptly changed the city skyline. Prop M limits the city to only 875,000 square feet in new large office projects per year, and Prop E would limit that growth further, reducing it by whatever amount the city falls short on its state-mandated affordable housing goals.
Advocates of Measure E -- which include numerous progressive allies of Courage California -- believe that the growth of commercial space is part of what is driving up the cost of housing and has to be slowed unless affordable housing is added, as well. While more and more businesses flock to the city of San Francisco, creating jobs, there is no where for the employees to live. It is not unusual to hear of SF employees commuting in from as far as Merced -- spending the majority of their day getting to and from work.
The measure’s opposition includes developers and city officials. Together they claim Prop E will simply raise the cost of commercial space and limit job growth in the city. The city controller’s analysis expands upon that claim by estimating that Prop. E. would cause the city to lose out on 10 million square feet in office space, 47,000 jobs, and 8.6 percentage points in economic growth in the next 20 years. However, considering that office development is increasing while affordable housing development is stagnating, it is unclear who those jobs and city’s funds will go to when only the super rich can afford to live in San Francisco. When we consider that, plus the fact that the measure is supported by Courage’s closest allies that work daily on affordable housing issues, it leads us to recommend you support the measure.
Vote YES on Prop E.