SAN FRANCISCO - The San Francisco Board of Supervisors unanimously approved a new housing package Tuesday that will add over 600 homes near the city's Hayes Valley neighborhood.
Proposed by Supervisor Dean Preston, the housing package will unstick a mixed-use project at 98 Franklin Street, permit 100 percent affordable housing at a parking lot on 600 McAllister Street and expedite the affordable housing project Parcel K in Hayes Valley.
Preston considered it a "quadruple win" -- not only does the legislation pave paths for a new high school and new housing, but it also provides more jobs for San Franciscans building these projects.
"I am proud to push the envelope to create as much affordable housing as possible," Preston said. "In this down market, with many private developments stalled or abandoned, the City should aggressively pursue site acquisitions for affordable housing. Bold pursuit of these opportunities is the only way we will meet our affordable housing goals."
The passed legislation allows greater height and density allowances at 98 Franklin Street, secures land dedication to purchase 600 McAllister Street and permits an extra $1 million to revitalize a delayed housing project in Hayes Valley.
The package will help bring up to 671 homes to the area - 42 percent of which will be affordable housing.
In 2020, the 98 Franklin Street project was rezoned due to escalating construction costs and supply chain problems, and it has since not broken ground. Related California, an affordable housing developer, reached out to Preston's office to find ways to rebuild momentum for the project and include new facilities for the French American International School.
"We're pleased to see this legislation move forward that will help bring 98 Franklin one step closer to reality, eventually creating a new mixed-use building and much-needed affordable housing in the Hayes Valley neighborhood," said Matthew Witte, Senior Vice President of Acquisitions and Development with Related California. "We want to sincerely thank Supervisor Preston for his work to make this happen."
Preston also secured an additional $1 million to expedite an affordable housing project at Parcel K in Hayes Valley - one of the dozen parcels in the neighborhood that were once the Octavia Freeway.
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Following successful advocacy in the late 1990s to demolish the freeway, the ownership of these parcels was transferred to the city in hopes of creating permanently affordable housing. Over two decades later, the site remains undeveloped.
Preston's funding is expected to initiate the predevelopment phase of the property, which is currently used by the outdoor venue Proxy. The Mayor's Office of Housing and Community Development is expected to submit a request to construct affordable housing on the site during the summer.