When 2014 started, the San Francisco Chamber of Commerce specifically identified seven points to focus on to help support the employers in the area, improve the economic prosperity and maintain the best quality of life possible.
Working with the Board of Supervisors that encouraged City Hall to create the proper legislation that supported the employers of the area, the Chamber set out to create the best conditions possible for businesses and residents of the region. The result was a substantial improvement that demonstrated how the proper legislation can really help shape employment opportunities and business expansion in the region.
The property management SF division of our firm also benefitted as well with a surging economy helping to drive up home sales while still keeping most homes affordable for new residents.
Improved Affordability
Here, three measures passed that bolstered housing production and availability which included the following:
More Dwelling Units Constructed in the Castro Neighborhood.
Granting Legal Status to Existing Dwellings Without Permits
The City Committing to Producing 30,000 New Housing Units by 2030.
In addition, a new law designed to place a tougher burden on property owners was rejected which helped people to rent their properties more freely than before.
Improve Economic Stability
Here, a special use district was created in Hayes Valley in which the need for a grocery store was recognized. Otherwise, a ban might have been applied to this particular use of the property. In addition, there was a new ordinance which required large hospitality employers to retain their employees for 90 days when control of the establishment changed hands, a new revision to the Health Care Security Ordinance and an increase to the minimum wage to $15 by 2018.
Greater Mobility
Here, There was a new MTA Commuter Shuttle Pilot Program that was established which helped this environmentally friendly program to go forward and a General Obligation Bond of $500 million for investments into the City’s infrastructure in terms of transportation.
Economic Growth Issues
There were a number of issues passed which helped to spur economic growth. These issues include the following:
Restore Sharp Park Golf Course and Protect the Surrounding Area
Renovation for the Masonic Auditorium
Treasure Island Development
Transformation of the Schlage Lock Factory Site
All four of these measures are designed to bring in more people to the region thanks to the renovation and property development.
Increase Safety in Community
Here, there were four issues that passed which helped improve the overall safety concerns in the region which included the following:
Approval of the Hall of Justice Replacement of the Proposed New Jail
Makes Graffiti Vandals financially Responsible for their Actions
Earthquake Safety Bond of $400 million
Approval of Laura’s Law which provides for Recovery Services and Assistance
A Fair Hire Ordinance was passed that prevents using the criminal history information at the beginning of the application process which removes barriers to certain types of employment.
Overall, all the improvements that were made helps to spur economic growth, attract more interest in the area and create more property management SF opportunities for us through better real estate construction and sales.
