The tax dollars collected through the tax code are meant for major infrastructure projects. However, San Francisco – as many other cities – has found a solution in using tax dollars to entice private developers to make major infrastructure projects possible. For example, the city sold development rights for a 1,070-foot office tower on public land, to a private developer to make the proposed Transbay Terminal feasible.
Such investments generate an economic activity, which is meant to benefit everyone in the city. However, the reality is quite different. With these high-end commercial and residential projects, the people who work in the city cannot afford to live in the city. Although, the new project would contribute $27 million into the affordable housing fund, that would be insufficient for the additional needs generated by thousands of new office workers.
“San Francisco has to get a grip. The city can't keep allowing more high-end housing and highrise office space without a plan to meet its housing needs.”
Reference: Guardian Editorial, Housing and highrise offices, San Francisco Bay Guardian, May 30, 2012
Related Posts:
At Digital City Briefs, we believe that the digital city is here to stay. We research and share best practices related to smart infrastructure and sustainable development.
No comments:
Post a Comment