New 27 Story Residential Project in San Francisco to Include 73 Affordable Units
July 29, 2021 | San Francisco City, San Francisco County, California
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In the heart of San Francisco, a transformative project is set to reshape a surface parking lot into a vibrant residential community. During a recent city meeting, officials discussed plans for a new 27-story building that will rise to 274 feet, or 284 feet with rooftop equipment. This ambitious development aims to provide 495 residential units, including a significant portion designated as affordable housing.
The project, which will encompass approximately 426,000 square feet, features a diverse mix of dwelling types: 192 studios, 149 one-bedroom units, 96 two-bedroom units, 53 three-bedroom units, and 8 five-bedroom units. Notably, 73 of these units will be offered at below-market rates, addressing the city's pressing need for affordable housing. The development will also include 166 off-street parking spaces, 12 car share spaces, and ample bike parking, promoting sustainable transportation options.
To facilitate the project, developers are invoking California's state density bonus law, which allows for increased residential density in exchange for providing affordable housing. This project specifically aims to meet 13% of its base units as affordable for very low-income households, with additional units available for those earning up to 110% of the area median income.
Community engagement has been a cornerstone of the planning process, with the project sponsor conducting over 100 stakeholder meetings. Feedback has been mixed, with some residents expressing support for the addition of nearly 500 housing units, while others raised concerns about potential traffic and construction impacts.
The planning department has recommended approval of the project, citing its alignment with the city’s general plan and its potential to enhance the neighborhood. The development promises to revitalize the area with new street improvements, landscaping, and community-serving retail space, all while contributing significantly to the city’s affordable housing goals.
As the project moves forward, it stands as a testament to the ongoing dialogue between city planners, developers, and the community, reflecting a collective effort to address housing shortages in one of the nation’s most dynamic urban landscapes.
The project, which will encompass approximately 426,000 square feet, features a diverse mix of dwelling types: 192 studios, 149 one-bedroom units, 96 two-bedroom units, 53 three-bedroom units, and 8 five-bedroom units. Notably, 73 of these units will be offered at below-market rates, addressing the city's pressing need for affordable housing. The development will also include 166 off-street parking spaces, 12 car share spaces, and ample bike parking, promoting sustainable transportation options.
To facilitate the project, developers are invoking California's state density bonus law, which allows for increased residential density in exchange for providing affordable housing. This project specifically aims to meet 13% of its base units as affordable for very low-income households, with additional units available for those earning up to 110% of the area median income.
Community engagement has been a cornerstone of the planning process, with the project sponsor conducting over 100 stakeholder meetings. Feedback has been mixed, with some residents expressing support for the addition of nearly 500 housing units, while others raised concerns about potential traffic and construction impacts.
The planning department has recommended approval of the project, citing its alignment with the city’s general plan and its potential to enhance the neighborhood. The development promises to revitalize the area with new street improvements, landscaping, and community-serving retail space, all while contributing significantly to the city’s affordable housing goals.
As the project moves forward, it stands as a testament to the ongoing dialogue between city planners, developers, and the community, reflecting a collective effort to address housing shortages in one of the nation’s most dynamic urban landscapes.
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