SF Mayor Breed Signs Housing Stimulus Plan into Law

San Francisco Mayor London Breed signed the Housing Stimulus and Fee Reform Plan into law. The plan temporarily reduces inclusionary housing requirements on new and already approved development projects and reforms and defers development impact fees in order to spur development projects and economic activity.  

“These new rules will spur new housing across the city and unlock projects that have been approved but are stuck because of how expensive it has become to build,” said Breed. “We need more housing, and we need more changes to our laws so we can have more homes for kids who are growing up here, for working people who want to live here, and for our seniors who want to stay in the communities they know and love.”  

Breed signed the legislation at 395 3rd St., a parking lot which is slated for more than 500 units of new housing in the South of Market area to be developed by Strada Investment Group, including approximately 80 affordable homes. The mayor’s office said the new plan will help that project and others like it to move forward, where it was previously struggling to be feasible.  

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.