BUILD seeks approval for revised 460-unit rental project near San Francisco transit station

In a recent San Francisco government meeting, city officials discussed a significant redevelopment project aimed at addressing the housing crisis in the area. The proposed project, located at a key site near a transit station, seeks to transform a previously approved plan for 304 condominium units into a more viable 460-unit rental development. This change is expected to add much-needed housing to the city’s inventory, with 44% of the new units designated as two-bedroom apartments.

The project, presented by Lou Vasquez of BUILD, highlights a shift in strategy to accommodate the challenges of financing large-scale for-sale housing. By reducing the average unit size from 1,200 square feet to 800 square feet, the developers aim to maintain the same building height while increasing the total number of units. The project is also set to generate approximately $57 million in impact fees, which includes $35.5 million earmarked for affordable housing initiatives.

Key features of the redevelopment include the creation of Oak Plaza, a public space designed to enhance pedestrian experience, and improved ground-floor retail spaces that will activate the area. The design incorporates wind mitigation strategies and a canopy to improve comfort for pedestrians, while also addressing traffic safety with a new tabletop crossing at Van Ness Avenue.

Public comments were invited following the presentation, allowing community members to voice their opinions on the project. This redevelopment is seen as a crucial step towards meeting the city’s housing needs and enhancing urban living in San Francisco. As discussions continue, the project represents a proactive approach to urban development, balancing the demand for housing with the need for public spaces and community engagement.