Committee forwards Sixteenth Street hotel acquisition for Homekey funding

The Budget & Finance Committee on Oct. 6 voted to send a resolution to the full Board that would authorize the acquisition of the property at 3055–3060 Sixteenth Street for $5.7 million and enable HSH to apply for Homekey funding.

Director McSpadden said the item had been presented previously and returned with non‑substantive clarifications related to Homekey application language. The resolution would authorize the director of property to execute an agreement of purchase and sale and take related actions; staff told the committee the transaction would be consistent with the FY22 budget.

Public commenters included tenants’ advocates and residents who urged the committee to move hotel acquisitions forward as a rapid and cost‑effective way to provide permanent supportive housing. Anastasia Yovanopoulos of the San Francisco Tenants Union said, “It’s cheaper to buy a hotel and put up homeless people than building new supportive housing.” Several callers added that hotels offer immediate units with private bathrooms and kitchens that work for families.

After brief discussion and receipt of the BLA report (which included no changes), the committee adopted the requested technical amendments and voted to forward the item to the full Board with a positive recommendation.