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Board approves redevelopment disposition for 1345 Turk Street to build 32 affordable condos; residents press certificate-of-preference concerns
Summary
The Board approved the Redevelopment Agency's disposition and development agreement for 1345 Turk Street, authorizing MSPDI Turk LLC to develop 32 below-market-rate condominiums for first-time buyers at 70'90% AMI.
The Board of Supervisors approved a redevelopment agency disposition and development agreement for a vacant parcel at 1345 Turk Street, between Webster and Fillmore, to be developed by Michael Simmons Property Development (MSPDI Turk LLC) into 32 below-market-rate (BMR) condominium units targeted to households at roughly 70'90% of area median income.
Lisonbee, deputy executive director for the San Francisco Redevelopment Agency, described the procurement and selection process and said the sales price to the developer is below appraised value to reduce…
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