Planning Commission approves 40-unit Hayes Valley project with parking concession in 4-3 vote

The San Francisco Planning Commission on April 28 approved a state density bonus project at 618 Octavia Street in Hayes Valley that would replace a surface lot with an eight-story mixed-use building containing 40 dwelling units, including 10 on-site below-market-rate (BMR) units. The commission voted 4-3 to grant the project a parking concession that increases on-site parking to 0.75 spaces per unit (30 spaces) under state density bonus law.

Project sponsors and staff said the concession and a stacker parking solution are required to make the project financially feasible and to market larger, family-sized units. Sponsor counsel and consultant materials (submitted as exhibits) estimated that constructing the stacker parking to add the 10 spaces would cost approximately $230,000 while the market value of the…