Urban ag-tivists take over San Francisco condo construction site
San Francisco is currently undergoing an unusual and sometimes uncomfortable growth spurt. The San Francisco Business Times calls it “the biggest burst of apartment construction” since the early 1970s, set to “dramatically reshape San Francisco’s skyline, neighborhoods and politics.” Over roughly the next three years, almost 8,000 new apartments will be constructed in the city, mostly in dense projects — more than all the rental housing built over the last 15 years combined.
This city has traditionally been an outpost of entrenched NIMBY power, but local residents mostly seem to be welcoming the new construction. San Francisco has some of the lowest housing vacancy rates and the fastest rising rental prices in the country — the median rental price for a one-bedroom apartment in the city is now more than $2,700, and still going up. Many current and wannabe residents hope the new apartment boom will help level things off.
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