S.F. apartment construction boom around the corner ... if you have $4,500/mo

[Newsjock]

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/23/MNJG1NJON9.DTL&tsp=1

After hibernating for years, apartment construction is poised to boom in San Francisco, where desperate renters say those high-rises can't rise high or fast enough.

Largely in response to the city's growing technology sector, 22,000 residential units are in various stages of approval and construction. In a few years, residents could be signing leases for new addresses in South Beach, South of Market, Central Market and Mission Bay.

... Urban living won't be cheap. A two-bedroom apartment at 1844 Market St. will cost $4,500 a month, and a studio $2,500, said Greg Vilkin, president of MacFarlane Partners.

... The trend "favors the high-end housing market, not the entry-level stuff for the little guys," said Tim Colen, head of the San Francisco Housing Action Coalition. "It's a question of, 'Who gets to live here?' "

[Hell Hath No Fury]

1. City officials have decided to abandon ---

workers, families, and the elderly to cater to Silicon Valley Tuppies who use the City as their boozing playground. As a native San Francisco, I am disgusted with where this town is going.