OCII approves loans, lease and shoring easement to advance 112 affordable units at Hunters Point Shipyard

The Commission on Community Investment and Infrastructure on Tuesday approved three distinct actions to clear final approvals for a 112‑unit, 100% affordable housing development on Hunters Point Shipyard Blocks 52 and 54.

OCII staff said the commission authorized (1) a first amendment to the existing loan agreement that reduces the loan by $2,200,302 to an aggregate loan amount of $57,000,433 for the project; (2) a ground lease and a site‑development agreement that includes reimbursements to the developer for site preparation work not to exceed $4,800,000 and a separate site‑development cap of $4,838,390; and (3) a shoring, underpinning and tie‑back easement and related escrow agreement to allow temporary below‑grade shoring access on a private street for Block 52 foundations. Each document was presented together and acted on separately; each motion passed on a 4–0 vote.

"We’re here before you today for the final approvals required to facilitate the construction of Blocks 52 and 54," said Jasmine Coe, a development specialist at OCII, summarizing the proposal and schedule. Coe told commissioners the project includes 110 units for households earning 30–50 percent of area median income and two manager units, and that the developer team expects to close construction financing and start building in May, with occupancy targeted for late 2025.

Coe described how rising construction costs, supply‑chain disruptions and other market factors increased the project budget since the commission’s prior approval. She said the developer requested an additional OCII subsidy of $2,600,000, bringing the agency’s total subsidy for the development to $61,800,000, and that other financing sources include private mortgage, tax‑credit equity and a $5,900,000 infill infrastructure grant from the state.

On health and safety, Coe said the developer’s environmental consultant Langan performed elective soil testing "for eight radionuclides, and the results indicated no contamination is present and there is no risk to construction workers, the public, or current or future residents." Coe added staff had determined the approvals fall within the scope of the project’s program EIR under CEQA.

The presentation named Jonathan Rose Companies as lead developer, Bayview Hunters Point Multipurpose Senior Services as the community partner, John Stewart Company as property manager, and a joint‑venture general contractor. Coe said the development will include family‑sized units (about 30 percent 3–5 bedrooms), multiple courtyards, laundry rooms and a community room on Block 52. The project’s garages will provide 62 parking spaces, a ratio Coe noted (0.6:1) as higher than typical in transit‑rich settings.

Community and contracting commitments were emphasized: occupancy priorities listed include certificate‑of‑preference holders and descendants of originally displaced households, neighborhood residents, and San Francisco residents or workers. OCII staff reported exceeding the agency’s 50 percent SBE goal for professional services to date and noted 40 percent LBE participation among subcontracting reported by the compliance supervisor.

Local resident Oscar James, speaking during public comment, voiced support for the housing mix and prioritized local jobs and cultural programs, urging the commission and legacy foundation to add education about Bayview‑Hunters Point history for youth as part of community benefits.

The motions were taken separately: the loan amendment (item 5b) was moved and seconded and passed 4–0; the ground lease and site‑development agreement (item 5c) was moved and seconded and passed 4–0; and the shoring/underpinning/tie‑back easement and escrow (item 5d) was moved and seconded and passed 4–0. The commission recorded each action as an approval to allow financing and construction to proceed.

Next steps: staff said construction financing is scheduled to close at the end of the month and construction to begin immediately afterward. The project team and OCII staff will continue community outreach and submit an early outreach plan one month after construction starts.