Having hit a record high in the first quarter of this year, the total number of units in San Francisco’s housing pipeline, including affordable units that are slated to be rebuilt, slipped back under 80,000 in the second quarter of 2022, driven by a 22 percent drop in the number of units that were newly proposed, according to our queries of Planning’s databases as mapped and distributed above.
In fact, the number of units that were newly proposed to be built in San Francisco dropped from over 10,000 in the first quarter of 2022 to roughly 8,000 in the second quarter, representing the fewest newly proposed units in a single quarter since the first quarter of 2014 and versus nearly 18,000 newly proposed units in the fourth quarter of 2015, with a current cycle low of 6,200 units proposed in the first quarter of 2012.
That being said, there were still over 8,000 units under construction across the city at the end of the second quarter, units which should be ready for occupancy within the next year or two, with another 9,300 units which have been fully approved, including building permits, but which have yet to break ground and nearly 13,000 units which have been fully approved by Planning and for which building permits have been requested (which is up from 9,100 at the same time last year), with over 41,000 units that have been entitled by Planning but permits for which have yet to be requested.
For context, an average of 2,600 units per year were constructed in San Francisco from 2000 through 2021, with an average of closer to 2,100 units built per year since 1991.
We’ll keep you posted and plugged-in.