Billionaire tech investor Marc Andreessen believes in constructing extra properties.  Simply not the place he lives

Billionaire tech investor Marc Andreessen believes in constructing extra properties. Simply not the place he lives

Billionaire Silicon Valley kingmaker Marc Andreessen, who has railed in opposition to NIMBYism within the Bay Space, got here beneath fireplace Friday when a reporter uncovered proof he had opposed constructing residences in his personal yard.

In its draft plan to fulfill California’s housing wants, Atherton — house to about 7,000 residents, lots of them very rich — proposed rezoning sure heaps to permit for the development of multi-family properties.

However in public feedback concerning the plan, greater than 100 residents have expressed opposition – together with Andreesen, the Netscape co-founder and influential early investor in corporations like Fb and Lyft.

Andreessen’s remark, first reported by the Atlantic, was signed by him and his spouse, philanthropist Laura Arrillaga-Andreessen. In it, the couple expressed the “massive objection” to house buildings.

“Please IMMEDIATELY REMOVE all multi-family overlay zoning tasks from the residential component,” the couple wrote. “They are going to massively scale back our home values, the standard of life for us and our neighbors and enhance noise air pollution and site visitors IMMENSELY.”

Neither Marc Andreessen nor Laura Arrillaga-Andreessen instantly responded to requests for touch upon Friday.

The Atlantic mentioned the remark got here from an e mail deal with utilizing the area and that metropolis official confirmed its authenticity. One other metropolis official informed The Chronicle there was no method to confirm precisely who wrote the remark.

Whereas the remark was per views sometimes expressed by Bay Space residents aiming to dam new development of their neighborhoods — in addition to lots of the different 300 feedback from Atherton residents — it contradicted these beforehand expressed by Andreessen views.

In a 2020 essay titled “It is Time to Construct,” the financier wrote that housing shortages are what’s retaining Bay Space actual property costs skyrocketing and discouraging individuals.

“We won’t construct almost sufficient housing in our thriving cities — resulting in insanely skyrocketing house costs in locations like San Francisco, making it nearly inconceivable for strange individuals to maneuver in and take the roles of the long run,” he wrote.

He continued that the issue is an absence of need.

“The issue is the will. We have now to *need* these items. The issue is inertia. We have now to need these items greater than we wish to stop these items,” he wrote.

At Atherton, Andreessen fell on the aspect of those that wished to stop. In response to the “overwhelming feedback from the neighborhood,” town’s governing council determined to take away the multifamily repurposing characteristic from its residential component blueprint and as a substitute add further residential models to current heaps to fulfill its requirement to develop 348 new residential models subsequent eight years.

The brand new plan can be publicly commented on.

Danielle Echeverria is a contributor to the San Francisco Chronicle. Electronic mail: Twitter: @DanielleEchev

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