Policy change more important than Big Tech largesse

Big Tech donations to affordable housing are generous, but reform of zoning and land use regulations more important, say experts. Blanca Torres of SJ Business Journal reports.

" 'When it takes a significant investment to spur housing supply to meet demand, it's clear there is something fundamentally broken in the housing ecosystem,' says Mike Kingsella, executive director of Up for Growth Action, as Washington, D.C.-based housing advocacy organization. 'We're facing this conundrum in which we have housing demand like we've never seen before, but we're also seeing less production. We don't just have a housing crisis, we have a market failure.'

"The market is failing to produce enough housing because of three key problems, and money is only one, said Matt Regan, senior vice president of public policy for the Bay Area Council, a business advocacy group. More significant obstacles to housing are zoning restrictions and onerous approval processes, he said.

"Short-term, the tech company commitments to provide capital and loans for housing could increase housing production, especially of subsidized housing for low and moderate incomes.

" 'Yet tech companies don't control land use, can't change zoning or issue building permits, and can't create housing without government approval. So it's not enough just to demand that tech fund housing,' says Scott Wiener, D-San Francisco in statement.

"As far as zoning and process reform, tech companies and other large employers could join the chorus of people clamoring for substantive policy change."

Read the whole thing (behind paywall) here.

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