The designs for a five-story building with 119 below-market-rate apartments for otherwise homeless veterans and low-income families to rise at 1150 Third Street, on the eastern half of Mission Bay Block 3 which fronts Third Street, between Mission Rock and Long Bridge, have been drawn.
As designed by Leddy Maytum Stacy Architects, the project, which is being co-developed by the Chinatown Community Development Center and Swords to Plowshares, will cost an estimated $47 million to construct and will provide a mix of 62 studios and one-bedrooms for formerly homeless veterans and 57 units – a mix of one, two and three-bedroom units – for low-income families earning up to 60 percent of the area median income, with on-site supportive services, a landscaped central courtyard and a garage for 24 cars and 72 bikes.
The apartments will range in size from 371 net square feet for the smallest studio to 1,050 square feet for the largest three-bedroom. And final approval for the development of 1150 Third Street is expected to be secured by next summer with the ground to be broken in the fall of 2017.
The 147-unit “Venue” already sits on the western half of Mission Bay Block 3, fronting Fourth Street.