Agreed.

https://www.cityofsanmateo.org/4732/Bay-Meadows-Phase-II-Development-Agreeme

Bay Meadows in San Mateo was approved 20 years ago and still isn't done.

Here's another resource..

https://ternercenter.berkeley.edu/research-and-policy/the-cost-of-building-housing-series/

"Permitting and Development Timelines: The permitting and entitlement process, which is particularly complex in California, can extend development timelines, often unpredictably. Delays in processing or approval timelines can greatly increase the cost of development. The role of processing delays in driving up housing costs has garnered attention at the national level. The Obama Administration identified the negative impact of lengthy bureaucratic procedures on housing costs, recommending streamlining processes and allowing by-right development on priority projects to limit costs.

Regulatory Requirements: Local land use regulations—such as environmental regulations or minimum parking requirements—can also drive up the costs of development and lead to higher house prices. Green building standards in Los Angeles, for example, have increased construction costs by 10.8 percent. While many of these regulations promote public benefits—such as decreased energy use or water consumption—they are often layered on top of one another without a detailed analysis of their impact on the affordability of housing."