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Board approves Transbay Block 6 disposition and development agreement for 280 Beale
Summary
After a public hearing with no public commenters, the board approved the successor agency's disposition and development agreement to sell Transbay Block 6 (280 Beale St.) to Golub Real Estate Corporation and Mercy Housing of California. The project carries area‑plan affordability requirements: 25% of housing must be low‑income and 10% moderate‑
The Board of Supervisors held a public hearing and approved a disposition and development agreement (DDA) for Transbay Block 6 — a state‑transferred parcel at 280 Beale Street — clearing the way for a planned development by Golub Real Estate Corporation and Mercy Housing of California.
Supervisor Jane Kim, whose district includes the parcel, introduced the hearing. City staff explained the site is part of the Transbay redevelopment area and that area‑plan rules require 25 percent of units built in the area plan be affordable to low‑income households and an additional 10 percent to moderate‑income households.
The public hearing drew no speakers, and the board adopted the resolution approving the DDA by roll call vote: 11 ayes, 0 noes.
Why it matters
The site is part of the broader Transbay Terminal redevelopment effort, which the transcript notes will house transit services including Caltrain in the future. Revenue from sale of these state parcels was intended to help finance the terminal. The inclusion of Mercy Housing — an affordable housing nonprofit — signals the project will include below‑market housing consistent with the area plan requirements.
Vote and procedure
On item 20 the clerk conducted a roll call; the vote record shows an 11‑0 adoption. The clerk noted no public comment on the disposition at the board hearing.
Speakers quoted in this article are identified by their titles as recorded in the meeting transcript.
