we cal clalt how much we believe benefit can bear, and how much value we're creating through the upzoning, and we're trying to capture a certain amount. so in this case we're trying to capture between 50 and 75% of the value that's being created by the central soma upzoning. so that's what these numbers are showing in kind of the pass tepass -- pastel. the pink is the more marginal, 75 to 100% body capture, and then the green is showing the prototypes that are no longer feasible after we apply the exactions. so the first line that i want to point out in green, this is referring to kind of the level that we had set back in 2015. this was when we believed that the adoption of the central soma plan was imminent, and so the 2015 development assumptions were still more or less valid, at that point. the next line shows in yellow what happens when we add 2017 assumptions. so we basically have escalated our costs as well as our revenues by two years from 2015 to 2017. we were unable to escalate it all the way to 2018 because we can't look into the future to understand what 2018 average rents will

and i know that it's nutty yimby saying we need to go and say upzone everything to rh-4. i understand how difficult it feels, but it's time. thank you. >> president hillis: thank you. next speaker, please. >> good evening, commissioners. my name is chris filipino. i am in favor of the kilroy project for the flower mart. i've been in the business for 35 years, and i love the flower market and its history. and when kilroy bought the property, i got so excited of the plan that they're going to make it like state of the art, and then, one of the most beautiful flower market in the world. we had trans-america building as one of our landmark, and we have also the golden gate bridge, and having and giving kilroy realty a chance to make this -- to design -- you know, their design is amazing. to do this job of the flower market will be really -- it will be like the third landmark of san francisco. and i'm so excited about this project. actually, i've been here, like, 12:00. i left my flower business. it's mother's day, and it's my first time. i'm sleepy. i hope you won't hold it a

i do think that there's a relationship, right, between upzoning and the projects being feasible. so, i know -- i'm so glad you're meeting with the mayor's office of housing and working it out. we discuss it here a lot in terms of the financial feasibility of a project. and often times with tax credits, a project is not feasible if it's three stories, four stories. but it is feasible if it's larger. i do think that this is the same for market rate units. i live on the west side. i live close to san francisco state. i think that it is really under zoned. we have a lot of commercial that's relying on very low density and not doing that well, frankly. because retail patterns have changed. but you know, i think that you're right, there's not much happening out there. and yes, we could go up to four stories, but four stories might not make it. i am looking forward to having more policy discussions around this. you know, i think that it's both a combination of what ease feasible and what's possible. and also, it's coupled with really strong tenant protections. we don't want to increase

we'll be hosting a panel decision moderated on rose aguilar on upzoning with equity. i want to acknowledge the hard work of the community leaders at the mid-polk area, which has finally reached the 30%-plus threshold to have an election to formal district, the city's fifth, cbd. middle polk is a vibrant culture with lgbtq. they've been conducting feasibility and doing due diligence. i should acknowledge suzanne ma markelle-fox, who has been at the head of the cbd proposal. our seawall, really protecting all of san francisco, and i'm proud to co-sponsor a bond measure for the voters to consider in november, because they all know, we all know, it's not a question of if, but a question of when we have a big, seismic event and this seawall bond is a way to take steps to confront the inevitable. we'll maximize every dollar to ensure that the most cost-effective measures are implemented. and i want to thank ms. forbes and staff at the port for bringing that forward and i would like to ask that we adjourn in the memory of jerry barr, who was a dear friend and member of the s

discussing sb 827, there was so much concern that we weren't going to be capturing the value of upzoning. the only way to have 100% value capture is if the public is the developer, so this is a way that we can provide housing without giving away any of the value that housing creates to developers. the people of san francisco can enjoy all of the value of that -- of that housing. thank you so much. >> thank you, and congratulations to antoine on his perfect behavior. next speaker, please. >> ben libby, may lee gee. >> hi. my name is ben. i'm here to encourage you to study the feasiblity of mta surface parking lots. [please stand by for captioner switch] >> so it depends how you do it. there's lots of different examples around the world. you can have social housing that is mandated to be either rent controlled from the beginning, right, so you limit the increase in rent, you can have special housing that is -- >> if i may, i'm sorry, maybe i shouldn't ask this question. more directly, does your definition of social housing include affordable housing for people of low incomes? >> sure yeah.

and someone was like well, we don't want to deviate from our plan with spot upzoning. that's not so good. and so this other idea of chopping away density even though it's nwithin the plan i also a deviation. so with staying consistent with what we've already claimed is our objectives, we should move forward with something that's realistics and fits our plan and will achieve the goals that we've laid out previously. thank you. >> president hillis: thank you. next speaker, please. >> if we can switch to the viewer. >> president hillis: there you go. >> good afternoon. my name is adam masry. i'm a bay crest resident since 1995, and committee for healthy housing committee. i had my first meeting with craig of tidewater capital, with ted jarvis, bay crest's previous general manager. i explained bay crest three problems with craig's brick shaped building that has nearly become a mantra in all of our communications: wind, sun, windows. it's quick to say and quick to remember. protect wind flow and sun light to our courtyards that supply wind to our homes and don't build so cl