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City staff seek land exchange at 240/234 Van Ness to enable up to ~110 affordable homes
Summary
MOHCD and the Department of Real Estate briefed the committee on an equal land exchange of city property at 240 Van Ness for adjacent private property at 234 Van Ness to create an L‑shaped parcel to support a ~100–110 unit affordable housing project. Board approval is required before the state funding application is submitted in June.
MOHCD and the Department of Real Estate presented a resolution to exchange city property at 240 Van Ness for an adjacent privately owned parcel at 234 Van Ness to produce a more regular L‑shaped parcel suitable for affordable housing development. The exchange is structured as an even swap; the city's only anticipated outlay would be title and closing costs (~$20,000). MOHCD said the reconfigured parcel improves buildability and efficiency and could support approximately 100–110 affordable homes, including units reserved for people with disabilities and households at multiple income levels. MOHCD reported a $2,000,000 predevelopment loan and preliminary $13,000,000 commitment to support state funding applications under the Affordable Housing and Sustainable Communities program, with a June 8 state application deadline.
The committee received the BLA report recommending approval and noting the match of parcel values and the limited city cost. No public comment was registered on the item and the item was moved to the full Board with a positive recommendation.
What happens next: The Board will consider the exchange; MOHCD plans to return in May with additional funding‑readiness materials in advance of the June state NOFA deadline.
