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Commission approves ground lease for 120 very-low-income senior units at 5800 Third Street
Summary
The commission authorized a ground lease to develop Carroll Avenue Senior Homes (121 units including manager unit), preserving a Bayview senior center on-site, directing marketing and preference order provisions and approving financing steps to move toward construction in 2014–2015.
The commission approved a ground lease authorizing development of Carroll Avenue Senior Homes at 5800 Third Street (Lot 3) in Bayview Hunters Point. Pam Sims of the Mayor's Office of Housing and Community Development presented the disposition and financing package for 121 senior units (120 very-low-income units plus one manager unit) and a new roughly 14,000-square-foot Bayview senior center to be relocated into the development.
The project is part of the Alice…
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