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Board approves 75-year ground lease for 25 Essex supportive housing project
Summary
The Board of Supervisors approved a ground lease allowing redevelopment agency to lease 25 Essex Street for 75 years to develop supportive housing for very low-income formerly homeless residents; construction expected to begin in December.
The San Francisco Board of Supervisors on Tuesday approved a ground lease that will allow the redevelopment agency to lease 25 Essex Street to 25 Essex LP for 75 years to build supportive housing for very low-income, formerly homeless residents.
Redevelopment acting deputy executive director for housing Sally Orth told the board the project — the first residential development moving forward in the Transbay redevelopment area — will include supportive services and ground-floor retail. Orth said the development team of Bridge and Community Housing Partnership had secured funding from multiple sources, including the state multifamily housing program, low-income housing tax credit equity “almost…
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