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Port Commission approves change to Mission Rock housing plan, lowers phase minimum affordability
Summary
Commission adopted Resolution 25-17 authorizing amendments to the Mission Rock housing plan and Parcel A lease that reallocate income-targeted units and lower the minimum affordable share for Phase 1 from 30% to 20% (the phase will still reach roughly 25% overall under the proposal).
The Port Commission voted to amend the Mission Rock housing plan and related parcel lease documents, approving a modification that shifts the mix of below‑market units in Phase 1 and lowers the plan’s minimum per‑phase affordability benchmark.
Port development staff explained the change as a response to post‑pandemic leasing dynamics. Wyatt Donnelly Landolt said leasing at Mission Rock has been uneven across income tiers: units targeted at 90% of area median income (AMI) leased quickly while units targeted at 150% AMI leased slowly. To accelerate occupancy and stabilize building finances, staff proposed eliminating the 150% AMI tier in Parcel A, increasing 90% AMI units and retaining 20% AMI units; as a result phase‑level affordability would fall below the housing plan's current 30% minimum. Staff therefore requested an amendment to lower the per‑phase minimum from 30% to 20% to accommodate the revised unit mix. The commission…
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