Private Developers to Take Over Administration of Public Housing Projects in San Francisco
On Monday, March 3rd, 2014 the San Francisco Chronicle reported the City of San Francisco Housing Authority has received approval allowing private developers to take over housing projects in exchange for requirements to improve their properties. According to the article, residents should begin to see improvements to their residences in 12 to 18 months.
Involvement of private developers is partly a response to problems within the housing projects. A federal government report last year rated the San Francisco Housing Authority as one of the worst in the nation due to poor conditions resident’s endured at its managed properties. The article also stated the private developers improving the properties will be required to extend building life expectancies by at least 20 years in exchange for a stream of steady payments.