Remember Prop 1C back in 2006? Who could forget! It created a $2.8 billion bond to fill in low-density gaps in California cities; and now the final installment has been issued. Mazel tov to the lucky recipients: John Stewart Co., the Emerald Fund, Tenderloin Neighborhood Development Corp., and Joe Montana. Yes, the Joe Montana.
The Emerald Fund (the company responsible for the dreadful Potrero Center) will put its $11 million toward building 308 rental units at 333 Harrison on Rincon Hill, and also towards the rehabilitation of the giant hot air balloon that brought its manager to San Francisco from Omaha. The John Stewart Co, on the other hand, will dedicate its $30 million to the building of Hunters View, a 750-unit mixed-income housing development.
It's unclear how much money Joe Montana got, but let's just assume he'll use it to build a giant inhabitable football.
· Urban housing firms grab $150M in grants [SF Business Times]
· California Proposition 1C (2006) [Ballotpedia>
· A Tall Future for the Potrero Center? [Curbed SF]