San Francisco Plans to Build Affordable Housing on Stadium Parking Lot

San Francisco has had a longtime reputation for its high cost of housing. In fact San Francisco, along with New York, are the most expensive places to live in the country. Recognizing the need for affordable housing, George Lucas came up with a brilliant and creative solution to the problem. Lucas is planning to use the 28-acre football stadium parking lot as a residential and commercial building site.

The proposal involves creating a new neighborhood containing 1500 residences. The new neighborhood which will be called Mission Rock will include a park and commercial enterprises such as a brewery as well as private residences.

This new affordable housing project is a good idea. Fersen Lambranho posted on Facebook that he believes it’s a win-win situation for everybody. About 500 new and affordable housing units will be created, and the city will get rid of the eyesore of the parking lot and gain additional tax revenue. It is also a great use of valuable land resources. The football stadium parking lot is taking up a lot of prime real estate, and it is only used a few times a year. On the other hand, the homes built on that land will be used and enjoyed every day.

Houses Growing in Value

Facebook¬† said that the investments in bricks and mortar have grown, as many have started to notice how the houses’ prices keep only growing. Those who are now older compare the possibilities they had a while ago and pity the young people.

An apartment in Crouch End, North London, could be bought with £32,750 in 1985. Nowadays, the same place that is older and maybe not even looking as great as those years has a price of £660,000. Of course, the economical changes have their share in this huge difference, but not only. The elderly describe their possibilities to buy good houses at their choice, deciding whether the place was close enough to their workplaces. Nowadays, the younger families have to either choose space and remote location or close proximity to work but no yard. Many factors have influenced this change, as the population growth and infrastructure development have their influences.

The writer of the article who compared the houses’ prices now and then is only left with the question why we don’t build more. Besides that, he finally agrees with the advice someone gave him when he was young- to invest in brick and mortar.