By Shamann Walton : sfexaminer – excerpt
Community Developers has been fighting for Bayview residents and the entire District 10 community for over 45 years.
In 2016, YCD fully leased up its first affordable housing project (working with for-profit developer AMCAL) on the Shipyard (Pacific Point), with 59 units of housing, all at 50 percent of area median income…
Within the first six months of being fully leased, AMCAL unilaterally tried to raise rents 10 percent for all residents after receiving new income guidelines from HUD. This was neither acceptable nor required as AMCAL was netting (after expenses) over $30,000.00 per month.
When YCD told AMCAL this was unacceptable, they were not happy but conceded at the time. A few months later they raised the rents (unilaterally) 3 percent for all residents in 2017.
YCD was unhappy and has informed AMCAL of its disdain with that decision for months… (more)
This is a difficult story to cover but it explains why there is a general mistrust of the non-profits that are running San Francisco housing projects. They are in it for the money and the federal HUD and other agencies are not protecting their clients either. The housing industry goal is to increase property values period. We need a way to separate the good groups from the bad if we are to solve the housing crisis and win the pubic trust.