San Francisco has failed miserably at both. Development is a four letter word due to the attitudes of many of the existing residents and the legal process that allows anyone to stall and delay anything. BART meets the threshold for tolerable transit, but there's not enough of it, and even if there were fast rapid transit to the peninsula or Marin the residents there are even more opposed to density than San Franciscans. Most of the new development is happening in parts of the East Bay near BART because that's where people are willing to allow it and where transit can get you downtown quickly. If the city were to permit and construct 10 story buildings in the Sunset tomorrow that wouldn't do much to alleviate real estate prices because it takes longer to cross the city on transit than it does to BART in from the good parts of Oakland.