Phased Projects
|
Project Name |
Description |
|---|---|
| Balboa Reservoir | In 2014, the Public Lands for Housing Program was created and identified publicly owned sites within the City that could provide new housing. The Balboa Reservoir, a nearly 17-acre surface public parking across from City College of San Francisco (CCSF) and owned by the San Francisco Public Utilities Commission (SFPUC), is the largest site identified by this program. The SFPUC and the Master Developer executed the Development Agreement in 2021, upon approval of the entitlements. The project will consist of approximately 1,100 units of housing, of which 50% would be market-rate. The affordable units will be for low-income households up to 80% AMI and moderate-income households, including educator households for CCSF and San Francisco Unified School District, up to 130% AMI. The developer will fund and construct 66.7% of the affordable units, with the City providing financing for the remaining 33.3% of the affordable units. All of MOHCD’s local sources of funding are eligible for new production like that planned for Balboa Reservoir, with the exceptions noted in the planned very low and low income and moderate-income housing program narratives above. However, MOHCD’s allocations budget is fully programmed, and only a portion of the funding needed to support the additional 33% of affordable housing has been identified. |
