No chance of affordable housing for this site? MT @CurbedSF SoMa Goodwill Site Expected to Fetch up to $60 Million http://t.co/l32SoNt90P
— Martha Bridegam (@MBridegam) November 19, 2013
Last week Curbed brought news of Goodwill's plan to sell their 2.3 acre parcel at the corner of South Van Ness and Mission streets. The parcel is zoned for up to a 320 foot high-rise and 600 residential units, but what other parameters would developing the site include? And what about affordable housing requirements?
The lot is located within the Van Ness & Market Downtown Residential Special Use District. According to the Planning Code, it's "intended to be a transit-oriented, high-density, mixed-use neighborhood with a significant residential presence." Sounds promising.
For residential development in this SUD, all projects will be subject to the Inclusionary Affordable Housing Program. As you recall, this can be met in a variety of ways - paying a fee of equal to 20% of the project, having 12% of the on-site units as affordable, or 20% of off-site units as affordable. The difference with this SUD is that developers aren't allowed to file for exceptions to these requirements. Sometimes large projects, specifcally ones over 120', can filed for "hardships" associated with construction type...basically saying that the only economically feasible way to construct a building that dense is to charge full market value. That can't happen on this site.
While it's unlikely that the entire property will be constructed as affordable housing, there will definitely be affordable housing requirements if it is developed as residential.
· Van Ness & Market Downtown Residential Special Use District [SF Planning Code]
· SoMa Goodwill Site Expected to Fetch up to $60 Million [Curbed SF]
· Previous Coverage of Affordable Housing Fees [Curbed SF]
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