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San Francisco Wants to Buy Out Landlords Before Luxury Developers Do

By Liza Veale, KALW/Crosscurrents

Cheap rental housing can feel like a vanishing resource in San Francisco. Property owners are selling buildings for multiples of what they originally bought them for, and who can blame them? But the consequence is almost all the units are getting fixed up and turned into luxury housing. It’s the way of the market, and it can seem inevitable. But what if it’s not?

In San Francisco, the city has begun trying to preserve its existing affordable housing by buying out landlords before flippers can get to them first. It’s called the Small Sites Acquisition and Rehab Program. And it just got a big boost in funding, thanks to Prop C, which passed last November.

Read the complete story at KALW/Crosscurrents.