1 Oak Settlement: developer cedes parcels; board accepts EIR after negotiated community benefits and interim parking controls

The San Francisco Board of Supervisors on Tuesday approved the Planning Commission’s certification of the final environmental impact report (FEIR) for the 1 Oak Street project after the parties negotiated a settlement that withdrew an outstanding appeal and produced additional community benefits.

President London Breed described the negotiated agreement as a “win‑win” that preserves a major private development while unlocking opportunities to create affordable housing on nearby city‑controlled parcels. The developer agreed to cede development rights for two adjacent parcels (identified at the hearing as parcels R and S) to enable a coordinated financing and housing plan in partnership with the Mayor’s Office of Housing and community stakeholders.

Affordable housing and neighborhood commitments

Under the settlement, the city and the developer will pursue financing to produce an estimated 100 on‑site and off‑site affordable units across the affected parcels. Among the commitments described at the hearing:

- A roughly 100% transitional‑age‑youth affordable building is proposed for one of the parcels; that building could include a childcare center at ground level. - Other parcels will include family workforce housing with two‑ and three‑bedroom below‑market units and affordable retail or community space intended for local small businesses or nonprofits. - The Mayor’s Office of Housing will…