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Costs, approval bighurdles for Googlein building homes

Jul 01, 2019 - The San Francisco Chronicle

Google has committed to a $1 billion plan that would help build 20,000 homes in the Bay Area over the next decade. But that round number represents the smallest of down payments on what has become the region's thorniest problem.

A new apartment in the Bay Area costs about $700,000 to build, including land and fees, said Cynthia Parker, CEO of Bridge Housing, a major nonprofit developer in San Francisco. The price tag on 20,000 units could be more than $14 billion.

That would be a maj...