Proposition A, a $300 million affordable housing bond in the ballot Tuesday in San Francisco, passed with around 70% of voters approving the measure in the latest tally. The measure required a two-thirds majority to pass.
The measure would create a $300 million general obligation bond to fund affordable housing. The bond was negotiated by Mayor London Breed and affordable housing advocates as part of a July 2023 housing deal and garnered widespread support from elected officials ahead of Tuesday's election.
The bond measure comes as state law requires the city to accommodate 46,598 affordable housing units by 2031 or face penalties.
The city is hoping Prop. A can help it build more affordable housing. Here’s how.#SFStandard #SanFrancisco #Election pic.twitter.com/pOB4t5tgdw
— The San Francisco Standard (@sfstandard) March 5, 2024
Under Prop. A, $240 million would fund the development, acquisition or rehabilitation of low-income housing, including senior housing and “extremely low-income” rental housing. Another $30 million would help preserve affordable housing for lower-income and moderate-income households, and another $30 million would support housing for very low-income victims of violence, abuse and other trauma.
“This $300 million affordable housing bond is our ongoing commitment to making the city safer and more affordable—without raising property taxes,” said Board of Supervisors President Aaron Peskin, who sponsored Prop. A.
The city’s progressive and moderate Democratic camps were united in support of Prop. A, with endorsements from labor, educators, women’s groups and merchant associations.
The San Francisco Republican Party opposed the measure, saying “no to unnecessary new taxes.”