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OCII approves amendment extending Block 4 option, names Mercy Housing as affordable partner
Summary
The Commission approved a first amendment to the Block 4 option with F4 Transbay Partners LLC to extend the option term and to accept Mercy Housing as the nonprofit affordable housing partner; staff described a 713-unit project with roughly 347 below‑market units and proposals to increase podium and tower heights; the amendment passed 4–0 with one absence.
The Commission on Community Investment and Infrastructure voted Sept. 18 to approve a first amendment to the option agreement for Block 4 in the Transbay Redevelopment Project Area, extending the developer’s purchase option and recognizing Mercy Housing as the project’s nonprofit affordable housing partner.
OCII staff presented a non‑binding term sheet negotiated with F4 Transbay Partners LLC that would extend the option term beyond its October 2018 expiration and allow additional administrative extensions by the executive director. Jeff White, OCII housing program manager, told the commission the revised project as proposed would include 713 housing units, of which 347 are identified as below‑market units and 366 as market‑rate. White said the podium will be 100%…
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