The ground for the 141-unit modular development to rise on Mission Bay South Block 9, adjacent to San Francisco’s new Public Safety Building and across the street from Phase 2 of the Giants’ massive Mission Rock development, is tentatively slated to be broken this June.
If everything goes as planned, the four-story development will take around 17 months to complete (versus closer to 24 months if fully built on-site) and should be ready for occupancy by the end of next year.
The development will be managed by BRIDGE Housing and Community Housing Partnership.
And once again, the 141 studio units, which will average around 400 square feet apiece and had been projected to cost around $427,000 per unit to develop, including common areas but not accounting for the value of the underlying (publicly-owned) land, will be made available to currently homeless and extremely low-income households earning less than 30 percent of the area median income, the individual threshold for which is currently $25,850 per year or $29,550 for a couple.
While the ground floor of the building will be constructed on-site, the upper floor modules will be constructed by Factory OS on Mare Island in Vallejo and trucked to the Block 9 site for final assembly, as newly rendered below.
And the total budget for the 141-unit development, which now includes $13.6 million in soft costs and a $3.11 million developer fee, but still doesn’t account for the value of the underlying, publicly-owned land (which is being leased for a buck), is up to $81,359,601 or roughly $577,000 per unit and $812 per square foot.