The more than 100 CEOs, Co-Founders, and Technology Investors of the California YIMBY Tech Network have signed a letter in support of Sen. Scott Wiener’s SB 827, a bill to increase home building in transit rich areas.
We’re fighting to overcome decades of bad housing policy. Please join us and share with other tech leaders in your network!
We the undersigned California technology leaders wish to voice our support for SB 827, your “Zoning Near High-Quality Transit” bill. The lack of homebuilding in California imperils our ability to hire employees and grow our companies. We recognize that the housing shortage leads to displacement, crushing rent burdens, long commutes, and environmental harm, and we want to be part of the solution.
We hope to grow our businesses in California, but it’s difficult to recruit and retain employees when they could accept jobs in other states and pay a fraction of California’s housing costs. Already, many California-based technology firms have accelerated hiring in other states because housing costs are too high. SB 827 will provide housing opportunities for many Californians while permitting our firms to increase good jobs and improving the fiscal position of the state budget.
The housing shortage places a huge burden on workers, many of which face punishingly long commutes and pay over half of their income on rent. Caltrain and BART receive significant state funding and are the backbones of our regional transit infrastructure, and yet these systems are not able to realize their full potential because too few people are able to take advantage of them to shorten their commutes. SB 827 would expand housing opportunities for everyone and is vital to ensuring that the Bay Area remains an engine of social mobility, as well as economic growth.
We therefore solidly support SB 827, and urge your colleagues in the Legislature to stand with you. Thank you for your leadership on this critical issue.