I still say its neighboring property owners will strongly oppose any development of that lot. It's been that way this whole time to this very day and it is what it is. I wouldn't buy or invest in that lot too if I was a multi-billionaire knowing that I won't be allowed by the City and County of San Francisco, yielding to NIMBYs, to build anything on that piece of land.

The way the city manages itself will correct the housing crisis. With thousands leaving and moving out of San Fran each week, it will self correct. You are already seeing condos sitting vacant ~ no buyers since crime and homeless keeps worsening.

There are officials holding it up. Who are they?? why reporters don't name them? so people can vote them out

$13.5 million in land cost before site preparation is almost $242,000 per unit just for the land for the 56 possible units. That alone will take the selling price of finished units out of the "affordable" range for a lot of people.

Nice segment highlighting any interesting story. Actually made me want to read what happened.

With a story like that they should make that vacant lot a historical landmark.

The laws allow projects to be blocked easily. Better to not waste your time and money.

That plat will not make a dent in supply

What a terrific story and insight into San Francisco's long time housing problem. As goes Omar Kahans....Wow! One amazing restaurant when it was in its heyday. I have very fond memories of dining there as a young boy and later as a resident and 20 something in the 70's.

I don' know if that's really the case because they are bulldozing buildings everywhere I look in SOMA to make room for luxury condos/apartments.

Let's say you are the legislature member, and you own 5 houses/apartments. Will you pass the bill that solves the housing crisis by making building new constructions easier and thus lowering the price, but at the cost of your personal wealth shrinking?

And it never occurred to anyone that maybe the THIRTEEN MILLION DOLLAR PRICE tag for a tiny lot in the middle of a city is maybe the reason it hasn’t sold?????

Great segment, both were wonderful, Love Josh's investigating

Its more a battle of property owners Vs Developers. The owners want to keep prices high for renting and as an investment

Renters rule , SF isn’t a landlord friendly city. Totally backwards. Just like the rights criminals n homeless take precedence over the rights of law abiding citizens n retailers.

With all the people fleeing San Francisco due to crime, drug use, open homelessness and overtaxation, there’s still not enough houses!!? 🤔

Prime location for a nice luxury development once rates come down a bit. Can’t have affordable housing on a plot like this.

🤔 How about transforming empty offices and stores into apartments and homes? The trends of online shopping and remote working aren't likely to change

Soooo fascinating, I love information

Because it's haunted.

I li live in Los Angeles, and instead of building land on vacant lots that are available, developers try to buy up old apartments or houses that are already housing people to create luxury housing. It’s like use up the vacant lots first and don’t displace people in already existing inventory. However the developers are greedy and want prime real estate and the politicians are flexing rules to make it easier for the politicians to make this “affordable housing” but let’s call it what it is. Luxury housing that sits empty that no one can afford. This is only part of the story. The rules are in place for a reason. The breaking of rules does only one thing make the politicians and developers rich while displacing thousands of low income residents.

Rich, people not gone build affordable housing here.

So its been vacant since 1906...and its in Nob Hill. Millennium Tower 2.0

THAT IS WAY TOO MUCH OF A RISK TO BUY THIS PROP FOR 13M. THE REPORT ANSWERED ITS OWN QUESTION - OF COURSE DEVELOPERS WILL TAKE THE RISK (IF THE PRICE IS RIGHT). LANDOWNER BUNGLED REDEVELOPMENT AND WANTS TO RECOUP COST IN SELL PRICE. LANDOWNER (DESPITE THE COMPELLING BACKSTORY) NEEDS TO CUT LOSSES AND PRICE IT RIGHT.

Build Back Never.

They should build a YMCA there. "It's fun to stay at the YMCA....."

That kid should be able to open up the business without the state forcing projects in order to clean a solution. That the state themselves created

Until one attempts to process any development project through the system will one realize that city workers feel it a duty to make it difficult to do anything if they need a city permit. Try it. 😏

wow in chinatown they demolished the ihotel amd dragged elder Filipino men that some had been veterans and served our country well. the financial district had a little Filipino town area next to Chinatown. The Ihotel was so vital to their community. they were dragged out and removed. I only learned about this in college. but growing up i saw an empty plot. only in recent years with much fundraising and community advocacy did they rebuild the ihotel. I am not sure if any Manongs Filipino elders were alive to move back in. They made affordable units to give for some low income housing. So many barriers to build housing, especially affordable housing.

eminent domain!

it’s government fatigue. everyone is tired of bloated bureaucracy

Just tell people to set their tents up there

there is just too much bs with the way how we do things!

It also is example of Ed Lee !

Best advice. Move to another state.

The lot priced over 13 million, nothing they build will be "affordable". There won't be any parking. The exodus of rich buyers and huge supply of for sale properties make this a losing proposition, along with certain other San Fran problems this video carefully overlooks. May as well level it and bring on the tents.

I think this is a bad cherry picked example of the housing crisis going on in California and all around the nation particularly in democratic strongholds (especially in democratic strongholds). Most of the time the housing problem involves White American homeowners that show up to town hall meetings to prevent new affordable multiple housing units to be built near them (NIMBYs as they're called). They simply do not want poor people of color to move in which they fear would increase crime (although obviously they don't say that) and thus lower the value of their property. This is the case most of the time. A minority of the cases (as this story highlights) usually involves people of color preventing multiple housing units to be built near them because that would mean that the area becomes gentrified (where socially mobile affluent White Americans move in). This story was one of those examples as Clay and Powell is located in Chinatown but most of the time this is not the case as far as the housing problem. Most of the time the cases around the housing crisis involve extreme and blatant systemic racism against black and brown people in America. Unfortunately thats just how things are in this country. We Americans are all about social justice and equality as far as talk but no one actually wants to integrate poor black and brown people. That is why everyday in this country the racial, class, political, and economic divide continues to get worst and worst. At some point in the future there's gonna be a breaking point which will spell major division or possibly even collapse of our society.

Oh yeah a housing crisis in a neighborhood that will ask probably no less than $8 million dollars for that house once it's built. Who is it helping? 😂😂😂😂

Well, we’re the apartments a huge sky scraper next to smaller apartments? You need new housing but don’t displace current housing, that defeats the purpose.

I love it when citizens w skin in the game go ups against people who like making up rules fer people w no skin that they will not play w them... offspring of immigrant not letting a gestapo tell them HOW to DO THEIR LIVES!!!! Good job SF... goodddddd job... What you have created is lovely

San Francisco needs better urban planners first. They really need to go to Europe and see how lively the inner cities are because they have a right mix of everything. Instead, whole downtown SF is turning into a huge dead zone because of this perfect combination 1) the city's planners incompetence allowing only office zones or residential zones but never a right mix that could create a vibrant social fabric 2) sickening liberal policies that allow people to sell life-killing drugs and allows people to die of life-killing drugs 3) greedy Israel supporting landlords who rather let their property sit empty for a tax write-off than lower the price which kills off all small mom and pop shops. Seriously... I don't see how it can be turned around. The Emerald by the Bay is on life support. Greed, bad public policy and bad urban planning. SF has it all.

If there is a political block then only a connected developer (affiliated with politicians) can take the risk.

People are leaving San Francisco and California. So, if we lose the 22% of Republicans in the State, we don't need to keep building GRIN

If you had tens of millions, why would you put it there??

Maybe a sewage plant would make more sence

Thanks for everything tech industry! We can see how you all really walked the talk by saving the world! 😂😂😂 except NOT and really you’re all just super greedy and leaving our home worse than how you found it. Bubye GTfO thanks

The way things are going there is going to be hundreds of thousands of empty houses as no one is going to want to live there..

SF is wayyyy to left. time to vote it back to moderation.

some chinese business man from china will buy this as soon as its available. thats the story

ed lee is really currupt

The planning dept and building dept are corrupt and slow to move. This doesn’t help.

Zombies, got cash for to do drugs? Got poo latrines? Got free support for using drugs? All tax paid? So san Francisco CA, a place to be, a go to area to be zombies? Hmm,.,.

Journalism nowadays.......in the picture they put on.....he is with Richard Nixon , and Nikita khrushchev..in the same picture..!!

Capitalism doesn't address market failures! Greed has priced everyone out of a home!!!!

SF = Startup Fail

🤣 city went to sh!t

Why does San Francisco need to build more housing again? Why can't any of the other cities around the bay be responsible for building more housing? Instead we need to cram more people in an already crammed city?

Tax empty apartments and lots

1:18 Excuse me? What is meant by 'genocide'? During the time of the World War, the Ottoman Empire was engaged in conflicts with various European countries. Referred to as the 'Sick Man,' the Ottomans were facing imminent collapse. It was in this precarious situation that the Armenians, who had lived alongside their neighbors for years, chose to side with Russia, which resulted in confrontations. They were promised their own lands, prompting actions that led to conflict between Armenians and the Ottomans. The events that unfolded were tragic, leading to differing perspectives on historical accounts. It's crucial to thoroughly understand the historical context before labeling it as a genocide. It's important to approach historical events with sensitivity and acknowledge the differing perspectives and experiences of various groups involved.

13.5 million. Thats why sf is doomed. I hope the landowner loses everything for their greed