Jon - really enjoyed failing to stump you the other day at the Urban.Us dinner and love what you are doing. Question: "The target tenant earns between $50,000 and $100,000 — the teachers, restaurant servers, police officers and entry-level tech workers who struggle to afford the $2,700 studios or $3,500 one-bedrooms popping up on Rincon Hill or Mission Bay."
Do teachers - let alone restaurant servers - in SF make >$50k?
Great to chat with you as well, great conversation and I appreciate the hard questions. Median teacher salary in 2012 was $59k according to public school data, restaurant servers with tips make the highest salary per geo of the restaurant industry in San Francisco clocking in at $50k base with between $20-50k in tips totaling $70k to $100k. We don't want to stop at $50k as a baseline though. Our 3 buildings under construction will have suites that can be afforded on a $25k a year salary. Our goal is to build, at scale, for those making minimum wage. We can only do that by brining down the cost of housing further which is the core focus of our business.
Do teachers - let alone restaurant servers - in SF make >$50k?