I live in the area. Proponents have couched this as a 'progressive' vs. 'nimby' effort, which like the rest of life is not true at all. Housing is complex, not good vs. evil, liberal vs. conservative, urgan vs sprawl. If you doubt this, watch how much this comment is downvoted. One thing we know, based on over a century of data around the world: increasing density of housing has little effect on affordability, in the…
Accommodating more people at the same, high prices is a benefit you seem to ignore. And historic growth shouldn’t be used as an input to an estimate of demand because growth itself depends on supply.
This is famously untrue with housing. Because it's so hard to match units demanded to units built, housing growth nearly always precedes demand. How? By leaning on estimates of demand (in-migration, etc.), which I mentioned above. And those estimates are almost always severe overestimates.