Rendering:
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PROJECT DESCRIPTION
The project sponsor proposes to construct an approximately 150-foot-tall, 10-to-15-story, mixed-use building on an approximately 25,000 sq. ft. lot. It would be a total of approximately 241,745 gsf in size, consisting of approximately 190 units of affordable housing over approximately 4,350 gsf of ground floor retail space with 42 off-street parking spaces.
Of the 190 total units, 167 of the units serve as the off-site below-market-rate units for the previously approved project at 201 Folsom Street. Pursuant to Ordinance 20-04, all of the units designated as the offsite units for 201 Folsom Street must be completed within 5 years of the start of construction of the 201 Folsom Street project. Of the remaining 23 units, 20 of them are affordable units pursuant to Planning Code Section 124(f) – meaning they are affordable for 20 years to households whose incomes are within 150 percent of the median income – and three of the units are the corresponding on-site below-marketrate units pursuant to Planning Code Section 415. The dwelling-unit mix would consist of 4 studios, 66 one-bedrooms, 102 two-bedrooms, and 18 three-bedrooms.
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