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Market-Rate Housing Fees Could Bring Millions to Oakland

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According to the San Francisco Business Times, the city of Oakland has released details of a plan to impose fees on market-rate housing development that would fund affordable housing, transit, and infrastructure improvement. According to the SFBT, the proposed maximum fees are $55,909 for low- and mid-rise multifamily projects and $71,541 for high-rise developments. Charges for single-family homes would reportedly range from $64,009 to $110,905, depending on location. As the article says, "if the maximum fee was enacted, a 100-unit mid-rise residential project, one of the most common types of projects being proposed in the city, would pay the city roughly $5.5 million."
The SFBT cited examples of developers who have expressed concerns that fees could limit the city's building activity. The article also notes that market-rate development in Oakland is outpaced by the number of new residents and jobs, contributing to a spike in rents that has put the city as the fifth most expensive rental market in America.

The proposal will have a public hearing on Dec. 15 at City Hall.

· New Oakland housing fees may add millions in costs to residential projects [SFBT]
· Never-Ending Story: SF Rents Hit New Record High in October [Curbed SF]
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· Previous Oakland Coverage [Curbed SF]