March 21, 2017
The possibility of a tax-code overhaul is casting a shadow over the $10 billion affordable-housing industry, which receives tax credits so valuable they often determine whether or not projects get off the ground. . . Developers said investors are valuing the credit 10% to 20% lower since Election Day. In some cases, investors have walked away, opening up funding gaps in projects already in motion. Because developers already walk a financial tightrope to build low-income housing, some projects are simply failing.
March 3, 2017
Assembly Bill 199 was introduced in late January and authored by Kansen Chu (D-San Jose) and the California Building and Construction Trades Council, a labor union group. The bill requires workers to be paid “prevailing wage” on residential projects that have any agreement with “the state or a political subdivision” — a provision that extends the requirement beyond the redevelopment agencies, public agencies and low income housing projects covered under existing state law.
Dec. 15, 2016
A one-two punch of unwavering fees and unavailable labor is leading many homebuilders to seek extensions of entitlements for projects across the region.
Dec. 4, 2016
The study notes that the 313,700 workers who were employed in 2015 fell 23.7 percent, or nearly 98,000, below the number who were employed at the industry’s peak in 2006.
June 2, 2016
Robert Tillman owns a coin-operated laundromat in San Francisco’s Mission District, a neighborhood at the epicenter of California’s housing crisis. Over the last 2½ years, he’s spent nearly $500,000 on plans to tear down the business to build apartments. But although the city has zoned the property for apartments, Tillman hasn’t gotten very far.