Hunters Point Shipyard approves affordable housing agreement with Jonathan Rose Companies

The San Francisco City Commission convened on July 4, 2025, to discuss significant developments in the Hunters Point Shipyard redevelopment project, particularly focusing on the approval of an exclusive negotiations agreement and an amended predevelopment loan agreement for the construction of 112 affordable family rental housing units.

The meeting highlighted the transition to a new lead developer, the Jonathan Rose Companies, following the withdrawal of the previous developer. This change marks a pivotal moment for the project, which has faced delays since its inception. The new agreement aims to revitalize the project, which includes 112 units—comprising mostly one, two, and three-bedroom apartments, as well as a manager's unit. The housing will cater to families with incomes ranging from 30% to 50% of the area median income, translating to approximately $38,000 to $64,000 annually for a family of four.

Elizabeth Colomelo, a senior development specialist, presented the details of the project, emphasizing the importance of community engagement and the commitment to small business participation. The project has achieved 87% small business enterprise (SBE) participation, with plans to maintain this momentum as development progresses.

The commission also discussed the project's timeline, with expectations to begin construction by mid to late 2022 and complete it by 2024. The community has been actively involved throughout the process, with the Hunters Point Shipyard Citizens Advisory Committee expressing strong support for the project, highlighting its potential to provide critical housing opportunities in the area.

In conclusion, the approval of the new lead developer and the associated agreements represents a significant step forward in addressing the urgent need for affordable housing in San Francisco, particularly in the Hunters Point neighborhood. The commission's actions reflect a commitment to fostering community development and ensuring that local residents benefit from the revitalization efforts.