THE ART OF A
COLLEGE EDUCATION
Francisco Chronicle at the time of
the hearing, Elisa Stephens defended the school’s real estate practices.
“We did not intentionally violate any laws,” Stephens said.
“We care about San Francisco the city and the community - but
there is lot of red tape. This is the
city’s reputation.”
Stephens, in an e-mail, notes
that the school is working to improve its relationship with the city.
“We are addressing these issues with the city because at the
end of the day we think we share
the same goals for this city — to
be the global innovation economy
leader,” she notes. “We truly believe that the relationship between (the university) and the
city should be a win-win.”
A report commissioned by the
school in 2010 found that it directly and indirectly supports
4,600 jobs in the city and contributes $140 million annually to
the regional economy.
The Academy also has an impact
on San Francisco’s fast-dwindling
supply of affordable housing — especially when it purchases rentcontrolled apartments and converts them into dormitories.
Not only does San Francisco
have both the highest average rent
HUFFINGTON
10.28.12
($1,905 for a two-bedroom apartment) and highest median home
price ($705,000) of any major city
in the country, but those prices are
increasing