San Francisco approves acquisition of 333 Twelfth Street for family housing

San Francisco County is set to enhance its efforts in combating family homelessness with the proposed acquisition of a new property, 333 Twelfth Street, also known as City Gardens. During a recent government meeting, Emily Cohen from the Department of Homelessness and Supportive Housing presented the plan to acquire this 200-unit building, which will provide permanent supportive housing specifically for families experiencing homelessness.

The acquisition, valued at $147.5 million, includes a purchase price of $145 million, along with associated costs. This initiative marks a significant step in the city’s strategy to increase its stock of family-sized housing, featuring a mix of two, four, and five-bedroom units. The building will also offer amenities such as a lobby, outdoor courtyard, roof garden, and laundry facilities, making it a compelling option for families transitioning out of homelessness.

Cohen emphasized the importance of this acquisition, noting that it is the first dedicated family building the city will own, which will significantly increase the capacity for family supportive housing. Currently, there are about 500 units of project-based family supportive housing in the city, and this new addition will enhance that number by nearly 50%.

The funding for the acquisition is structured in two installments, allowing the city to apply for state project home key funding. The first installment of $100 million is due at closing, with the second installment of $45 million plus interest due one year later. If the city is successful in securing state funding, it could offset some of these costs.

The meeting also highlighted the urgency of the acquisition, as the market for such properties is becoming increasingly competitive. City officials expressed excitement about the potential impact of this project on the community, particularly in addressing the needs of families currently living in inadequate conditions, such as single-room occupancy (SRO) hotels.

As the city moves forward with this acquisition, it aims to not only provide immediate housing solutions but also to create a long-term strategy for supporting families in need. The approval of this resolution is seen as a critical step in San Francisco's ongoing efforts to tackle homelessness and improve living conditions for vulnerable populations.