The elephant in the room wasn’t addressed. There is an affordable living developer involved yet no mention of pricing strategy? That said, hard to imagine it being any different than the highest of comps.
Edit: To clarify, it's not as if tech companies, especially Google, are going to stop hiring and attracting more highly paid people to the area. 10,000 sounds like a number small enough to be gobbled up pretty quickly by SV tech growth.
Not that I'm in favor of turning the bay area into a high density population. A lot of what makes the region so nice to be, especially the peninsula, is the relatively low density. I really wish tech companies would make more of an effort to distribute their workforce and better leverage technology to enable remote work. It's really messing with the demographics, culture, and gender distribution of places like SV. When San Jose is being referred to as Man Jose, you've got a real problem.
Housing-as-asset-class, with phased new supply and demand stimulation might have opposite effects if the stock substitutes for other investment vehicles. Typical asset bubble.
“Affordable” or other non-market schemes simply raise the prices for everyone else — including the non rich that don’t win the “affordable” lottery.
More market housing everywhere solves the affordability crisis.
If you open it up to allow 10x or even 100x more housing units you'll get ones in every price range.