Posted Jul 30, 2024, 5:38 PM
|
|
你的媽媽
|
|
Join Date: Jan 2012
Location: The Bay
Posts: 11,563
|
|
Quote:
S.F. developer hits brick wall in bid to turn Tenderloin lot into housing
By Heather Knight, Columnist
Updated Aug 15, 2022 12:20 p.m.
...
Coby Friedman, head of CF Contracting, bought the small lot a couple of years ago. Tellingly in this city where every price tag makes eyes water, he paid $1.1 million for a 2,900-square-foot patch of dirt in the middle of the Tenderloin. He wants to turn it into housing — 100% affordable is his dream — but 14 months after turning in plans to the city, he’s no closer to making them a reality.
...
In this case, though, it’s mostly the inordinate expense of building housing in the city that’s causing the frustration. Under the city’s zoning rules, he can build high — 130 feet — but not dense. Just 23 units would be allowed. The lot is also so small, it would be hard to include the green space required by the city. Friedman has proposed building more units with different plans, ranging from 60 to 84 studios, but even at that number, which would require special permission from the city, he can’t find an affordable housing developer willing to build it. That’s because building affordable housing is so expensive and time-consuming — costing, on average, $750,000 per unit and taking seven years — that developers usually turn down projects with fewer than 150 apartments. So Friedman is caught in a Goldilocks-style dilemma with the city saying he’s seeking far too many units and affordable housing developers saying he’s seeking far too few.
Sam Moss, executive director of Mission Housing Development Corp., an affordable housing developer, said he had to turn Friedman’s offer down because it didn’t have enough units. “It won’t kick off enough money to pay the rent,” Moss said. “That’s a shame, but it’s not wrong. It is sad because in my humble opinion, it has given our city bureaucracy cover to just say no to anything that isn’t a 150-unit type deal. It means we’re trying to make the perfect the enemy of the good.” He added that it’s not all San Francisco’s fault. The federal government used to give more housing vouchers, which low-income tenants could use to offset the cost of rent.
|
https://www.sfchronicle.com/sf/bayarea/h...nderloin-affordable-housing-17371022.php
|