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Committee backs $147.5 million plan to acquire 333 Twelfth Street for family supportive housing
Summary
The Budget & Finance Committee forwarded a resolution authorizing HSH to acquire City Gardens, 333 Twelfth Street, for up to $147.5 million to convert the 200-unit building into family permanent supportive housing; the purchase will be staged and HSH will apply for HOME Key and bond funding for the second installment.
The Budget and Finance Committee on April 20 voted to forward to the full Board a resolution authorizing the Department of Homelessness and Supportive Housing to acquire 333 Twelfth Street (City Gardens) for an anticipated total of up to $147,500,000.
Deputy Director Emily Cohen described the property as a 200‑unit, newly constructed family-sized building with a mix of 2–5 bedroom units and amenities (roof garden, courtyard, elevators). Under the proposed two‑installment purchase, the city would close on a $100,000,000 first installment and take ownership; a second installment…
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