â€œThis is what developers and some city officials see as San Francisco's future: high-rise, high-end condominiums, islands of serenity near transit corridors with ground-floor shopping and cafÃ©s. In this vision, some 40,000 new units, perhaps even more, will be built over the next 20 years, enough housing for 100,000 new residentsâ€¦. But all but a fraction of those new units will be at what the city calls "market rate," meaning the very cheapest of them â€" tiny one bedrooms â€" will go for half a million dollars.â€
â€œIt is, housing activist Calvin Welch says, a "socially psychotic plan.... We're becoming a gilded bedroom community for San Mateo and Santa Clara Counties."
"If the goal is a sustainable city, a sustainable economy," Welch argues, "then existing housing is the most valuable, existing jobs are the most valuable, and existing residents are the most valuable."