Mixed Income Housing Complex Proves Resiliency

San Francisco Mayor London Breed at the announcment of the new affordable housing units. Source: KRON4 News

When San Francisco Mayor London Breed celebrated the grand opening of a new mixed-income housing community in San Francisco, she had no idea how crucial the need for diverse housing options would become.

A progressive on housing policy, Mayor Breed leads the second most expensive city to live in, according to Forbes magazine in a state with the highest rate of homeless in the country. Containing 548 units, with 149 affordable units below market value for families earning up to 50-percent of Area median Income or below, the three-building development is in the Transbay neighborhood on a one-acre block off Folsom, First, Clementina and Fremont streets.

“These 548 new homes are part of a years-long effort to create a new, thriving neighborhood in San Francisco and provide more homes so people can afford to live here,” Breed said. “This development of Transbay Block 8 represents everything a successful mixed-income community should look like, with a combination of affordable homes, market rate apartments and condos, and a new retail corridor.”

The development is part of an ongoing cross administration initiative dating back to the term of Breed’s predecessor, current California Governor Gavin Newsome. The mixed-income Avery Complex is now the fourth housing project to be completed in the Transbay Redevelopment Project Area, established in 2005.

In total, the Transbay Redevelopment Project Area will host 3,206 units of housing, of which 1,381 will be permanently affordable.

Source: KRON4 News