I spent part of my lunch looking over the documents that CSTH posted above. What I had time to review is still a bit nebulous, but speaking only for myself, I'm not troubled by the proposal. I do understand why others might be.
I'm no politician. As an engaged homeowner in my community, there are proposals I'll support, and others I'll speak out against. I usually get shot at by both sides at community meetings. I'd describe myself as nominally pro-development, in that I think it needs to be easier to get a project from the drawing board (and the bank) to market. Conversely, we all should expect better designs and materials from the developers, and more innovative planning from the city and region, from roads, to public transportation, to utilities.
I agree, housing costs across the region are inflated beyond the point of sustainability, and this needs to be addressed. I'm just not convinced that market forces (like the rising value of my family's home) are sending us in the right direction. So many of these problems boil down to a population that, regardless of education or economic level, is largely incapable of having a nuanced discussion on these topics.