Corporate Shuttles Partially To Blame For Skyrocketing San Francisco Rents
SAN FRANCISCO (KCBS) – Rents in San Francisco are on the rise, up 13 percent from a year ago. Supply is short, partially because so many people are looking to live in the city but work elsewhere as corporate commuter shuttles make it easier for workers.
It's not a new perk but one that companies like Google, Apple, Yahoo and Genentech use to attract top talent: Luxury buses that allow you to ignore the traffic and check your email.
"Over the last two decades the percentage of what we call reverse commuters has gone from about nine percent out of San Francisco to just over 20 percent," said Jason Henderson, an associate professor specializing in land use planning at San Francisco State.
KCBS' Holly Quan Reports:
He said that if you want to live in Noe Valley or Cow Hollow, working an hour away isn't going to stop you. But what's troubling to him is the trend for top Silicon Valley companies to put their offices where people don't want to live.
"Unfortunately, a lot of these firms kind of go out and find these big huge lots, setting themselves up in a way where you don't really have a walkable environment right around there, or the ability for people to live nearby and create a community," said Henderson.
What this means is more time spent on the road, which is not good for the environment or workers' mental health.
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