Projects w/affordable housing in pipeline get priority & existing protected @MayorEdLee #sfmayor #gentrification
He doesn't want to lose affordable housing as new developments & rehabs happen
At 1600 Market
"This year will see only one project made up entirely of off-site BMRs for a market-rate project. Developer Brian Spiers, who is building Linea at 1998 Market St., is close to completing 1600 Market St., a 23-unit for-sale building affordable to folks making 70 percent of the area median income. (About $56,000 for one person.)
For condo developers, doing on-site is tricky because you essentially need two business plans and two marketing schemes. The BMR units are sold through a large bureaucracy — the Mayor’s Office of Housing – so there is that to deal with too."
bizjournals.com/sanfrancisco/print-edition/2013/12/20/sf-...
Projects w/affordable housing in pipeline get priority & existing protected @MayorEdLee #sfmayor #gentrification
He doesn't want to lose affordable housing as new developments & rehabs happen
At 1600 Market
"This year will see only one project made up entirely of off-site BMRs for a market-rate project. Developer Brian Spiers, who is building Linea at 1998 Market St., is close to completing 1600 Market St., a 23-unit for-sale building affordable to folks making 70 percent of the area median income. (About $56,000 for one person.)
For condo developers, doing on-site is tricky because you essentially need two business plans and two marketing schemes. The BMR units are sold through a large bureaucracy — the Mayor’s Office of Housing – so there is that to deal with too."
bizjournals.com/sanfrancisco/print-edition/2013/12/20/sf-...