OAKLAND | 5727 College Avenue | 352 + 294 FT | 31 + 25 FLOORS

[38 Geary]

Originally Posted by deanstirrat

well then the barriers of entry are still too high.Developers should be jumping on every opportunity to build as densely as possible for fear of missing out

There are already density bonuses, where if a developer sets aside a percentage of units as permanently affordable, they are legally allowed to build up to 50% more units (and sometimes double) than local zoning limits permit. Also parking waivers eliminating expensive mandates to build underground parking garages saves developers tens of thousands of dollars per unit.

Unfortunately, traditional market rate projects require large bank loans paid back at high interest, so they require maximum market rents to be viable. The Bay Area, being one of the most expensive places in the world to build, makes this extra difficult.

[deanstirrat]

Originally Posted by 38 Geary

The Bay Area, being one of the most expensive places in the world to build, makes this extra difficult.

The only things that pencil out are projects backed by massive developer or ultra massive projects that take up half a block or more. The cost of building and economy of scale are the only thing that makes these projects possible

We need to quicken permitting times and continue to destroy red tape so hundreds of skinnier taller buildings can be built on small lots all around the bay.