San Francisco advances 168 housing units through new development agreement

The City of San Francisco held a significant meeting on July 4, 2025, focusing on housing development and the challenges posed by the post-pandemic economic landscape. The session began with a presentation from Anne Topier of the Office of Economic and Workforce Development (OEWD), who addressed the commission regarding a new proposal for the site at 98 Franklin.

Topier highlighted the pressing issues affecting housing construction, including rising construction costs and increased interest rates, which have made financing more difficult. She emphasized that the proposed development agreement aims to tackle these challenges by allowing a former fast food restaurant site to fulfill affordable housing requirements. This strategic move is expected to unlock the potential for 168 housing units, thereby increasing both market-rate and affordable housing availability in the city.

Additionally, the agreement includes a provision for a $1,000,000 fee to be directed toward advancing housing development at Parcel K, further supporting the city’s affordable housing goals. Topier noted that this development agreement represents a shift towards more feasible solutions that adapt to current economic conditions, suggesting that similar adjustments may be seen in other housing projects in the near future.

The meeting also included discussions about the ongoing review of a red line version of the proposal by the city attorney, who was unavailable for finalization due to travel commitments. The commission expressed gratitude for the collaborative efforts of the project team and city staff in navigating these complex issues.

Overall, the meeting underscored the city’s commitment to addressing housing needs through innovative solutions while adapting to the evolving economic landscape. The commission's support for these adjustments is seen as a crucial step toward achieving San Francisco's housing development objectives.