A 712 square foot Potrero Launch two-bedroom loft with polished concrete floors, stainless steel appliances, barn style bedroom doors and a whole host of building amenities including complimentary Wi-Fi is now available for $1,078 per month. And yes, there’s a catch or two.
As part of San Francisco’s Below Market Rate (BMR) Affordable Housing Program, the income for the tenants of the Dogpatch two-bedroom cannot exceed 50% of the Area Median Income, a maximum household income of $40,500 for two people or $45,550 for three. At the same time, the minimum household income to qualify for apartment E305 is at least $32,340 a year.
Applications for the two-bedroom BMR are due on December 9 with a lottery to follow depending upon the number of applicants. A market-rate two-bedroom of 852 square feet is also available in the building at 2235 Third Street for $3,950 a month, no lottery needed, and a 360 square foot studio for $2,425 which is nine dollars less than average in San Francisco these days.
Below Market Rate (BMR) Affordable Housing Program. That’s some politically correct progressive rhetoric, let’s call this what it truly is… “subsidized housing”. The developer/property owner is subsidizing the rent, not the government, not anyone else.
I never understood why anyone would pay near the rent wanted here. There’s just not a lot to do around there, and the T line is a joke. I could maybe see if someone had to take Caltrain every day, but even still I personally would pass.
Neither bedroom has a window, and therefore, this should legally be considered a studio+. Guess the folks at planning who administer the BMR rules don’t know any better…
…or they realize that less rent should equal less apartment.
That’s not a 2BR, it’s a studio with two walk-in closets.
This really puts the BM in BMR.
If you look at the lower/tan bedroom, you’ll notice that the door – as drawn – wouldn’t close. Seems pretty small.