Originally approved for the development of affordable senior housing over a decade ago, neither financing nor the building permits for a five-story building to rise on Tenderloin parking lot parcel at 430 Eddy Street were secured and the entitlements were cancelled and lost.
Two years ago the now un-entitled parcel sold for $1.6 million. And new plans for the parcel have now emerged.
If approved next month, an eight-story building with 23 residential units will rise on the site, along with a 970-square-foot retail space and a ground-floor room for the storage of 24 bikes. And as proposed, the majority, if not all, of the sub 500-square-foot units will be market rate.
When will SF start building homes for families? 500 sq ft isn’t going to cut it with two kids.
Families aren’t looking to move into the TL for the most part. The quickest way to free up single family homes in SF would be to build a lot of cheap, small housing in downtown and soma. This will prove to be a favorable option to your 20-somethings fresh out of college, and then they’ll stop having to rent large houses and split them with friends.
NO, not in Soma or downtown; more expensive to acquire land and entitlements in those areas. They are just not set up (largely) to serve families.
Best locations would be in the Southern parts of The City; land is available there and less costly. Bringing more people into this area of SF can only increase the “livability” and vitality of these neighborhoods.
Yes and the city is doing just that, in the Candlestick, Hunter’s Point, and SF state neighborhoods.
No, not for families. We should be building massive amounts of small unit market rate housing in downtown and soma. We could provide a lot of housing for young workers who prefer short commutes over lots of space. Then the affordable housing entitlements would provide a lot of good housing to supplement the SROs in the area.
As for the outer neighborhoods, we should be looking into how to best focus their style of development for families like you’re saying. We need to stop looking at housing as one size fits all. We need micro units, we need family housing, and we need to think about how that housing fits into the bigger picture of a functional city.
ever been to Chinatown? Family housing is housing that families live in.
Why can’t “below market rate “tenants be forced to get “below market rate” sizes??
Put them into micro units!!! They are already getting a steal of a deal…
i’m amazed that there are people willing to pay market rate SF prices to live in the Tenderloin.
Market rate, by definition, is what people are willing to pay.
I’m amazed the city hasn’t YET put below market rate housing in YOUR neighborhood.
Some of us aren’t afraid of affordable housing, BT. Besides, my point was that it’s a rough neighborhood, and its insane that people are charged thousands per month to live there.
Well that’s how the market works. People aren’t just charged thousands per month to live there; people are voluntarily paying that price
The TL is definitely changing. It’s currently primarily more upscale lounges and restaraunts with some galleries, but gentrification is happening.
i will be curious to see what this type of unit will go for. very tiny and in the middle of the TL.
any guesses on what a 400Sq ft condo at this location will cost? Could it really sell for >$400K?
400k sounds about right….recall a year or two back….even smaller (nicer location) but only a few blocks away tiny really, no oven, mini-fridge, went for about 400k i think : at bookstore//square commons. 400sqft. is prolly a jr. one bedroom at least
Interesting to see the prices. Up at Reno the median worker income can afford a 330K – 360K home. That is what is being built especially around Boomtown.
The median income here can afford what? Maybe 700K of which nothing is being built. Except maybe for this type of “off path” project.
If it were up to me they’d stop approving ANY below-market-rate units in the Tenderloin and force them to be built in other neighborhoods, using eminent domain to acquire the land at reasonable prices if necessary. The Tenderloin is choc-a-block with housing and services for the poor, addicted and sick. It just creates a ghetto and it is past time to stop doing that. People from other parts of town love to isolate all their problems in the T-loin and then they complain about how it is and sneer that they would never go there. Enough.
There are 3000+ urban kids living in the Tenderloin. For families living downtown, they trade space with a quick commute. This allows parents more time to spend with their kids. Successful neighborhoods are diverse neighborhoods. I don’t see why more family type units can’t be built in the Tenderloin or other parts of downtown.
I once lived in a 430 SF 2-bedroom apartment in Hong Kong. It was compact with incredible views and light. I loved it and wish there were more of these types of units in downtown SF. Then I could walk to work everyday.
520 SF studio in the Hamilton (631 OFarrell) is currently listed at 525K
Before the dot.com crash you could buy a Hamilton studio for $75K.
I wonder if this project is from the same developer that wanted to do a very similar structure (almost the exact same size) on the garage lot across the street (on Eddy)……the garage facade was declared historic, so I believe the project’s fate went on to various boards and committees, and I never heard another word.
UPDATE: Approved Tenderloin Infill Site Back on the Market at a Luxury Price