The city’s answer to the affordable housing crisis has found a new victim: small businesses.
San Francisco, CA -- (SBWIRE) -- 03/27/2014 -- The victims of the affordable housing crisis are well-known by now across the city as new developers buy buildings and evict or force out the renters. The city's answer to build new units has introduced a new victim to the watershed: small businesses.
In Mayor Ed Lee’s State of The City Address in January, he called for 30,000 units to be built up or rehabilitated over the next six years. “We demand that developers build more housing affordable for working people and middle income families,” Lee said.
One developer in the city, The Emerald Fund is spending $58mil on construction of a 162-unit apartment building at 101 Polk Street near Mid-Market in San Francisco. “The idea was to bring housing down to Civic Center close to transit and where all the jobs are,” says Oz Erickson, head of Emerald Fund.
There is no room to build but up, and that means building on top of where people live and work currently. Rishi Khanna of ABC Decorative Rugs in the historic San Francisco Design Center says new owners bought the building he has been in for over 8 years, and are forcing him out so they can repurpose the building into multi-family units.
ABC Decorative Rugs has until mid-April to liquidate their 10,000 sq. ft. showroom filled with exquisite designer and oriental rugs by marking everything down 50% to 75% off. Although Mr. Khanna is actively searching for a new storefront like many other small business owners, is having trouble finding an affordable new home for his family’s business.
“I asked for an extra month, then just an extra week, but they say they have all the permits approved and will come in my store and begin deconstruction whether we are moved out or not,” says Mr. Khanna.
ABC Decorative Rugs is just one example of a small business in San Francisco that has felt the pinch of the housing crisis, and sure not to be the last as Mayor Lee and other developers continue to rehab and build new affordable housing.
About ABC Decorative Rugs
ABC Decorative Rugs came to San Francisco in 2001 and opened its first retail store open to the public. Since then, the company has been awarded with immense praise and recognition for their outstanding inventory of rugs, customer service, and best prices. ABC Decorative Rugs also directly imports all their rugs from around the world. Our Promise to our Customers, Our word is final: Best selection of rugs, Best service, at the best prices! Whether you are looking for modern, transitional, tribal or traditional rugs, ABC Decorative Rugs has the largest inventory in the Bay Area- Guaranteed! Some of our newest products include wall to wall carpeting and hardwood flooring, such as bamboo and solid wood hand scraped.. And remember….together we can make your beautiful home, more beautiful.
ABC Decorative Rugs
San Francisco Design Center Garden Court
1 Henry Adams St.
San Francisco, CA 94103