What you derisively call "quarter million dollar condos" are of course helpful for this. It is either from directly housing the currently homeless with mental illness in these homes.
And if these homes do not directly house the homeless, new additional homes, where people's rent goes towards construction and labor rather than merely the pockets of a rentier landlord that just sees their rents ever increase is a huge help. Productive creation of new housing, especially if it increases the vacancy rate, is crucial to reigning in the housing market, a market which is failing our people, and in which landlords and homeowners are profiting from people's misery through perpetual shortages.
And if vacancy rates are not increasing, then we haven't built enough of those "quarter million dollar condos." Keep on building them until there's a surplus and they government can buy them on the cheap and provide housing as a human right.
Anybody who says that we do not need more housing is the very source of our homelessness problem. More housing makes everything easier, and the only cost is that some busybodies don't want to see it. Why pay attention to those people at the cost of helping everybody else?
A lot of the existing housing solutions for the chronically homeless have terrible terrible restrictions that make the housing not work for people, sadly.