A decade ago, the nonprofit housing developer Tenderloin Neighborhood Development Corporation (TNDC) bought a parking lot at the corner of Taylor and Eddy streets and hatched plans to put up a 14-story residential building. The project, located at 168-186 Eddy Street, was to have 153 affordable apartments over a ground-floor grocery—a scarcity in this part of the Tenderloin. But funding ran dry as California slashed its spending on affordable housing and the redevelopment agencies dissolved. Now, as TNDC still searches for funding for the project, the developer has won approval from the Planning Department to downsize 168-186 Eddy to eight stories and 103 units, the San Francisco Business Times reports. The grocery will also shrink, to 5,500 square feet.
Designed by David Baker Architects, the shorter building will offer 15 studios, 10 one-bedrooms, 64 two-bedrooms, and 14 three-bedrooms. Because of the lower unit count, the per-unit cost will, of course, have to rise—in times when it already costs between $500,000 and $700,000 to build one unit of housing in San Francisco, whether it's affordable or market rate, as the Business Times points out. For 168-186 Eddy, at least, there may be a private-market solution yet: The Paramount Group's proposed high-rise at 75 Howard has looked at helping fund 168-186 Eddy in exchange for extra height (to the tune of 25 stories) at Howard and Steuart streets on the waterfront.
· Tenderloin Neighborhood Development Corporation [Official Site]
· 168-186 Eddy Street—Conditional Use Authorization (PDF) [SF Planning]
· 22 Days Before Redevelopment Agencies Go "Buh-Bye" [Curbed SF]
· This Tenderloin Project's Decade of Delays Shows Why Affordable Housing Is Languishing [SF Business Times]
· Eddy + Taylor Family Housing [David Baker Architects]
· In Exchange for Waterfront Height, Developer Offers Tenderloin Affordable Housing [Curbed SF]