I see in the article how 10-15% of the units will be reserved for "low income". I understand why they do this. If they didn't, it would never get approval from the necessary zoning authority. However, I think it's a mistake.
When people think "low income" they usually think of poignant cases of single mothers trying to raise kids, but in my experience that's not as common as we think.
I live in an SF building where I'd estimate at least 10% of the residents are retired. I think most are on Social Security and using Section 8. I know my neighbor is because she doesn't speak much English (she's Russian) and she brings me her mail to read. I'm guessing the other retirees (almost all Russian immigrants) are in the same boat.
In my opinion, if retirees need public assistance, they should live in a lower-cost area like Livermore, Gilroy, or Santa Rosa, not one of the most expensive neighborhoods in one of the most expensive cities in the world. Heck, I'd love to live in those areas if my job didn't require me to be in downtown SF every day.
But that would make too much sense. Instead, every new housing unit has to have some portion reserved for "low income" so the local politicians can have some currency to spread around among their supporters - and if you don't think they do this you are kidding yourself.
Constantly taking 10-15% of supply and restricting it to low income just raises housing costs for everyone else - and it's a double-whammy too because it's our tax dollars funding this unnecessarily lavish lifestyle (and $3K/month for a studio is lavish - there's no getting around it.)
If you can't afford to live in a certain level of housing in a certain area at market prices, then you shouldn't live there, you should live somewhere cheaper. If the people companies want to hire can't afford to live within a reasonable distance then companies should pay more. If they can't pay more they should leave.
Companies and jobs leaving will be the only way to lower demand and prices - and probably the only way to wake leaders up and get them to address our poor housing policies.