June 16, 2015
The San Francisco Giants have agreed to increase the share of ‘affordable housing’ to be included within their proposed 28-acre Mission Rock development to an unprecedented 40 percent in exchange for Supervisor Jane Kim withdrawing her proposed ballot measure which would have limited building heights on the waterfront site to 120 feet and required 50 percent of the units to be affordable.
If the project’s proposed 240-foot height limit is approved by voters in November, and then successfully approved by the City, 12 percent of Mission Rock’s 1,500 units of housing would be designated for households earning up to 55 percent of the Area Median Income (AMI); 21 percent for households earning up to 120 percent of the AMI; and 7 percent would be priced to be affordable to households earning up to 150 percent of the AMI.
The current AMI for an individual is $71,350 and $81,500 for a household of two.
In addition to 1,500 units of housing, the Giants’ plans for the redevelopment of AT&T Park’s Parking Lot A and the adjacent Pier 48 include 1.5 million square feet of office, retail and other commercial uses, eight acres of parks, plazas and open space, and a new Anchor Brewery on Pier 48.
Articles and photos sourced from: www.socketsite.com
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