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Board authorizes OCII ground leases for Transbay Block 2 East, clearing path for 184-unit affordable housing project
Summary
The Board approved resolutions authorizing the Office of Community Investment and Infrastructure (OCII) to execute 75-year ground leases to develop Transbay Block 2 East, a 184-unit 100% affordable family rental project (40 units for formerly homeless households) that includes a childcare facility and community-serving retail.
Sitting as a committee of the whole, the Board of Supervisors on April 23 approved ground-lease actions to allow development of Transbay Block 2 East (200 Folsom Street), a planned 17-story, 184-unit affordable family housing development.
Supervisor Dorsey opened the hearing, describing the project as a second affordable development on Block 2; 2 West (senior housing) has already closed financing and begun construction. "Block 2 is one of the few remaining development sites in Zone 1 and critical to meeting the overall affordability requirements," said Kim Obstfeld, senior development specialist with the Office of Community Investment and Infrastructure (OCII), who led the staff presentation.
OCII told the board that Transbay Block 2 East…
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