Skip to content

Giants and Jane Kim Reach Deal to Increase Affordable Housing at Mission Rock Development to 40%

June 17, 2015

By Julia Carrie Wong : sfweekly – excerpt

The San Francisco Giants and a team of affordable housing advocates led by Supervisor Jane Kim have reached an agreement to increase to 40% the affordable housing component in the team’s Mission Rock development. Under the agreement, which was reached early this morning after an all-night negotiation session, the project will include what Supervisor Kim calls an “unprecedented” level of below-market rate housing, at the following levels:

2% of units affordable to residents earning 45% of the area median income (AMI)
10% of units affordable to residents earning 55% AMI
4% of units affordable to residents earning 90% AMI
17% of units affordable to residents earning 120% AMI
7% of units affordable to residents earning 150% AMI.

The development is expected to include approximately 1500 housing units total. The 2015 area median income [pdf] is $71,350 for a single person and $81,500 for a couple.

“Both sides really stretched to come to this agreement,” Kim said today by telephone. “We are now looking at a project that can include everyone from ballpark workers making 45% of AMI all the way to middle-income residents like teachers and nurses.”

A document memorializing the deal was signed by the Giants and the negotiating team of affordable housing advocates, which was made up of Jane Kim, Supervisor John Avalos, and representatives from the Bill Sorro Housing Project (BiSHoP), the Council of Community Housing Organizations, and UNITE HERE Local 2… (more)

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: