Mayor Breed and Community Members Celebrate Groundbreaking of New Affordable Housing

Two new 100% affordable housing developments will create 178 units for families and seniors

Mayor London N. Breed, Supervisor Aaron Peskin, and community leaders Tuesday celebrated the joint ground­breakings of 88 Broadway and 735 Davis near The Em­barcadero. Together, the buildings will provide 178 new permanently affordable homes for families, seniors, and formerly homeless se­niors. The buildings are ex­pected to be completed in mid-2021.

Eighty-eight Broadway is currently a surface parking lot owned by the Port of San Francisco on a parcel remain­ing from the former Embar­cadero Freeway. The second parcel at 735 Davis is a former San Francisco Public Works parking lot that was trans­ferred to the Mayor’s Office of Housing and Community Development through the city’s surplus land ordinance to make developable sites available for affordable hous­ing on public lands.

735 Davis, San Francisco

“Eighty-eight Broadway and 735 Davis are a model for taking underutilized land and turning it into what we need most in this city—100% affordable housing,” said Breed on Tuesday. “The $600 million Affordable Housing Bond, which will go in front of the Board of Supervisors this afternoon, will allow us to provide housing for our most vulnerable residents, includ­ing seniors, formerly home­less individuals, veterans, educators and low-income families.”

With a particular focus on meeting the housing needs of the immediate neighbor­hood, 88 Broadway and 735 Davis’s units will be available to future tenants—including formerly homeless seniors— with incomes ranging from 0% to 120% of Area Median Income. This vibrant mixed-income community will also feature a childcare center op­erated by the YMCA, a res­taurant space, and a public walkway connecting the two sites.

In October 2018, Breed announced a $1.5 million in­vestment to make 88 Broad­way and 735 Davis affordable to very low-income seniors. The funding cuts rents in half for 13 units of senior housing, lowering the monthly rent for a one-bedroom apartment from $1,421 to $710.

In 2018, Assemblymember David Chiu authored Assem­bly Bill (AB) 1423 to permit the City to build an afford­able housing development at 88 Broadway. AB 1423 also clarified that the project could include a childcare facility and a restaurant.

“This is exactly the type of project San Francisco desper­ately needs, and I am grate­ful to have a small role in making it happen,” said As­semblymember David Chiu (D-San Francisco). “A bill I authored and passed last year, Assembly Bill 1423, ensured 88 Broadway would include housing for both low-income and middle-income San Fran­ciscans and create an afford­able, vibrant community for San Francisco families.”

“I have been advocating for affordable housing on this site for over 20 years,” said Supervisor Aaron Pes­kin. “The process of getting input from the neighborhood- -everyone from the Barbary Coast Neighborhood Asso­ciation to Chinatown seniors- -was critical to making this project better, and ultimately more deeply affordable. With 88 Broadway/735 Davis in mind, President Yee and I have created the first ever Senior Operating Subsidies (SOS) Fund in this year’s budget, to ensure that the ma­jority of seniors who don’t qualify for affordable hous­ing because of their fixed in­comes have a chance to live and thrive in District 3. I’m thrilled to see this project fi­nally break ground in a water­front neighborhood where we have a long history of com­munity-led affordable hous­ing victories.”

BRIDGE Housing Corpo­ration and The John Stewart Company are partners on this multi-building development, and they have enlisted local architecture firm Leddy May­tum Stacy and Cahill Con­tractors to bring this project to completion.

“Another unique feature of this hybrid development is the combination of some formerly homeless residents plus a cohort known as the ‘missing middle,’ such as nurses, teachers and first re­sponders,” said John Stewart, Chairman of The John Stew­art Company.

Both affordable hous­ing developments have been made possible by financ­ing from the San Francisco Mayor’s Office of Housing and Community Develop­ment, Bank of America, and the California Tax Credit Al­location Committee. Barings Multifamily Capital LLC contributed to 88 Broadway and the Federal Home Loan

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