Commission approves nonprofit HOME SF project at 5250 Third Street with 70% affordability finding

The Planning Commission voted June 16 to approve a HOME SF project authorization for a proposed seven‑story building at 5250 Third Street that will create 100 units, including 30 units required under HOME SF and an additional voluntary commitment by the project sponsor to deed‑restrict 70 units.

The sponsor, a newly formed nonprofit called the Affordability Project, told the commission it will own the building and pledged to restrict a minimum of 70% of units as below‑market‑rate. Sponsor Joey Tiboni said the nonprofit will manage leasing for the additional 40 deed‑restricted units (beyond the HOME SF 30%) and that all rents will conform to MOHCD guidelines for specified AMI tiers. Tiboni said proceeds from the 30 market‑rate units would be reinvested in future affordable development.

Several construction‑trade union representatives opposed the approval without explicit prevailing‑wage commitments; Carpenters Local 22 and UA Local 38 urged the commission to require payment of area‑standard wages, health benefits and apprenticeship standards. The sponsor said it could not commit to full union labor on this first project given fundraising and financing constraints but expressed interest in negotiating with unions for future projects.

Deputy City Attorney Austin Yang advised that the city can rely on statements made at the hearing in findings but that self‑imposed deed restrictions by the sponsor are separate commitments with limited third‑party enforcement by the city. Commissioners resolved this by adding a finding reflecting the sponsor’s intent to provide 70 deed‑restricted units at income levels in the 80–140% AMI range and approving conditions in the staff motion; a condition to add a living green wall on a west retaining wall was also included.

Vote: the motion to approve the project with the staff‑read conditions and the added finding passed 6–1 (one commissioner opposed).