Letter to Editor: If Housing is so badly needed, why are the new downtown Cadence units listed on Airbnb?

South San Francisco, CA   October 30, 2019 Submitted by a SSF Resident who chooses to remain anonymous

PREFACE; The Cadence Development has replaced the Lautze Ford Buildings located downtown at 400 Cypress Avenue. This development is 7-stories, with 260 units from 1-3 bedrooms, 568-1364sf, all rentals with leases starting at $3,033 to over $5,171/mo and was developed by By Sares-Regis Group and AFL-CIO Building Investment Trust.

Local neighbors have pushed back against the gentrification happening in what was only recently pretty much a family neighborhood, mixed with businesses. Due to the high demand for housing caused by the excessive/ successful job creation done by South San Francisco, many locals are concerned there is no priority list for those already living, or working, in South San Francisco, for these new developments which impact them directly with congestion, noise pollution. Phase 2 of the Cadence Development is under way.

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Developers rendering

 

‘I was wondering if it was generally known that Cadence, the property with the two new huge apartment blocks on Cyprus, is only about half full and is now listing apartments on Airbnb? They seem to have been given over to some kind of corporate listing company that handles the bookings….one is called Zeus and the other seems to be Kasa and they both are listed on the Airbnb site. The City of South San Francisco seems to be approving these huge complexes left, right and center and yet once they are built, they are so overpriced that people cannot afford them and they end up on Airbnb. This is not the way to mitigate the shortage of affordable housing in South San Francisco. Oh…..and Cadence….who can’t fill the apartments that they have already built, still have Phase 2 to complete which is another 195 units across the road (between Tamarack Lane and Miller ave). All that the City seems to be doing at this time is approving future Airbnb Corporate Accommodations as opposed to providing REAL solutions to our peoples housing needs.’

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