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.