June 4, 2008
And In Other Election News
Prop 98? Defeated. The eminent domain reform proposition, which would have seen rent control eliminated in San Francisco, Oakland, and Berkeley, failed to win last night. It seems that about 61 percent of voters rejected Prop. 98.
Prop 99, Prop 98's counterattack? It passed. Also, redevelopment is facing a serious hangover this morning after it celebrated a victory last night. Proposition G, which will see the Hunters Point Shipyard and Candlestick Point undergo some serious housing and commercial development, won. And the Chris Daly-fronted Prop F-- the "meagerly funded" affordable housing and allegedly anti-gentrification proposition -- failed.
Read more about last night's election here.
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Lennar was given the land FOR FREE in one of the hottest real estate markets in the country with the bio-tech industry moving in right next door to snatch up the high-priced homes. They spent 3.4 MILLION dollars to defeat F and the overall project is 1 BILLION. And people actually think they'd walk away from the deal if they had to provide 50% affordable housing instead of 32%??!! WTF?? Wake up, people. You just gave away The Bayview to the highest bidder. They ate the steak and gave you the bone.