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Committee advances Panoramic Hotel acquisition for conversion to supportive housing after extensive public comment
Summary
The Budget & Finance Committee unanimously approved amendments and forwarded an $86.5M acquisition of the Panoramic Hotel (1321 Mission) to the full Board; the proposal would convert 160 units (including 43 family‑sized units) into permanent supportive housing and seek Homekey funding, prompting hundreds of public comments both supporting and opposing the project.
The committee on Oct. 6 voted to forward a resolution authorizing the acquisition of the Panoramic Hotel at 1321 Mission Street for $86.5 million to the full Board with a positive recommendation, after accepting non‑substantive amendments requested by the Department of Homelessness and Supportive Housing (HSH).
Chair Matt Haney described the acquisition as part of a larger city strategy to secure immediately available units and stressed the urgency of converting hotels into permanent supportive housing. “We have an unprecedented opportunity right now with Homekey dollars…to acquire a number of hotels and to make a dent in homelessness,” Haney said.
HSH Director McSpadden and acquisition staff described the building as a strong candidate for conversion: 160 units built in 2015 with private kitchens and bathrooms, an elevator and close access to transit and services. HSH said the project would include 120 studios and 43 family units, require relatively minor rehab, and carry an estimated per‑unit cost of about $541,000. The department said it would apply for state Homekey funding to supplement local dollars and requested non‑substantive clarifying amendments to the Homekey application language.
The Budget & Legislative Analyst recommended approval while flagging policy considerations: the BLA noted the high per‑unit cost (driven in part by family units), the scale of the city’s concurrent acquisition effort, and suggested the Board ask HSH to develop formal acquisition policies and report back in June 2022 on occupancy and operating costs for acquired sites.
Public comment included many supporters — tenants, advocates, service providers and current Panoramic residents — who said the building already serves as a safe, stabilizing place for people leaving homelessness. Multiple Panoramic residents spoke about improved stability and services since being housed there.
Opponents, including some neighborhood residents, said the site concentrates services in one neighborhood and raised concerns about crime and open‑air drug use nearby. Supervisors acknowledged safety concerns and described city efforts (outreach, coordinated public safety teams, community safety ambassadors) as complements to housing investments.
After discussion the committee accepted HSH’s non‑substantive amendments and voted to forward the resolution to the full Board with a positive recommendation. The acquisition still requires full Board approval and the anticipated use of Homekey funds is subject to state award and conditions.
