JOIN THE FIGHT FOR AFFORDABLE HOUSING

Supporters say also that social housing provides an opportunity to generate financing when fees that market-rate developers must contribute toward affordable housing have slowed. 

“One of the biggest drivers that is preventing housing from being built is the financing, and funding for affordable housing has been drying up because there’s been no market-rate development,” said District 9 Supervisor Jackie Fielder, who endorsed the measure. 

Brousseau said social housing is self-sustaining and can provide funding for more lower-income housing units from ongoing rental income. 

“It offers some more payoff, I think, down the road,” he said.”

SF PUBLIC PRESS - September 27, 2026

Prop. I is not a new tax. The transfer tax on sales above $10 million has been law since 2020, and almost no San Franciscan will ever pay it. A no vote lowers no one's tax bill. The rate is set either way. The only question on this ballot is where the money goes.

Prop. I honors a promise. In 2020 voters passed Proposition K to support 10,000 units of social housing with 74 percent of the vote, and raised this tax to pay for it. It has brought in more than $500 million since, roughly $200 million of it going into affordable housing. It worked. Then City Hall stopped sending it there.

SF BUSINESS TIMES - September 25, 2026

Prop I from 2020 doubled the transfer tax for properties over $10 million from 2.75% to 5.5%, and from 3% to 6% for properties valued at $25 million or more.

Supporters at the time said the revenue generated from the tax hikes could support rent relief and affordable housing construction, but the measure did not include any binding mandate saying it had to be spent on those initiatives.

“Voters passed Prop I back in 2020 for a purpose," Fielder said in a social media video advocating for the measure. "We must keep that promise.”

SFGATE - September 24, 2026

Lurie is opposed to Prop I, calling it an “unaccountable slush fund.” But it’s more likely the mayor would rather have the money in the general fund in this time of budget deficits. The reality, however, is that San Francisco needs more affordable housing, and Prop I is one way to help fund that.

Prop I probably wouldn’t even be on the ballot if city officials had followed the intent of the original Prop I. Vote YES on Prop I.

BAY AREA REPORTER - September 23, 2026

That urgency was on display last week when supporters of the Affordable Housing Guarantee Act submitted enough signatures to place the measure on the November ballot. The proposal would dedicate the city’s existing transfer-tax revenue to affordable housing 

SF CHRONICLE - JULY 7, 2026

City Hall has committed to securing 46,000 new affordable homes by 2031, but has no actual plan to do so. Preserving Prop. I and dedicating the funds to housing should be a no-brainer. Combined with the expansion of the Housing Trust Fund recently announced by the mayor, we have an opportunity to finally solve this crisis once and for all.

Prop. I has already raised over $500 million. It’s projected to raise another $350 million in the next three years. We can ensure that City Hall uses those funds to scale up social housing and make San Francisco a city for all, not just the wealthy.

SAN FRANCISCO EXAMINER - JUN 23, 2026