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2,515-unit housing proposal in S.F.’s Fillmore is one of city’s largest ever
Roland Li
Oct. 29, 2020 Updated: Oct. 29, 2020 4:32 p.m.

A 1973 housing cooperative in San Francisco’s Fillmore district could become one of the city’s largest housing developments ever.

Freedom West, a 382-home complex on four blocks built in the wake of the city’s destructive urban renewal, is moving forward with a $2 billion proposal that would replace the existing housing and add 133 affordable units and up to 2,000 market-rate units.

Co-op shareholders voted to advance a plan from developer MacFarlane Partners and Avanath Capital Management, which will require city reviews and approvals.

The existing 382 homes, which are in need of repairs, would be replaced with eight-story modern buildings for current residents at no additional cost. They now pay around $1,000 per month. Revenue from the new project will help cover existing debt payments.

. . . Freedom West would be in its heart, just three blocks from City Hall. The project would dwarf any of the new projects in nearby Hayes Valley.

Freedom West co-op owners would also have a 15% profit share in the new market-rate units, which include new buildings rising 12 and 18 stories. The developer plans to seek tax credits and public funding to build the affordable housing units . . . .

MacFarlane hopes to win approval in two years and completely construction of the affordable housing in the three years after that. He hopes to finish the entire project in less than a decade.

The project would include 20,000 square feet of retail space and a 6,000-square-foot Innovation Center that would offer job training and small business assistance.

https://www.sfchronicle.com/business...e-15686795.php