Board approves Parcel F Transbay redevelopment variation, developer to pay roughly $45–$47 million fee toward off‑site affordable housing

The San Francisco Board of Supervisors voted on March 16 to consent to a redevelopment‑plan variation, approve planning‑code and map changes, and accept a development agreement for 542–550 Howard Street (Parcel F, Transbay). The package was considered by the Board as a committee of the whole acting in its capacity as successor agency to the former redevelopment agency.

Supervisor Matt Haney, the item sponsor, said the project will develop one of the last parcels in the Transbay redevelopment area and will include a mixed‑use tower with residential condominiums, a hotel, office space and retail. Haney said the developer agreed to a larger in‑lieu affordable housing fee equal to 150% of the city’s standard fee and that OCII plans to use the fee to fund affordable housing on Transbay Block 4.

Sally Orth, interim executive director of the Office of Community Investment and Infrastructure (OCII), told the board that the developer team (Hines, Urban Pacific and Goldman Sachs) had originally envisioned providing…