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Committee backs purchase and long‑term ground lease for Sunnydale Parcel Q, advancing HOPE SF rebuild
Summary
The committee recommended approval of a purchase and 99‑year ground lease for Parcel Q in the Sunnydale HOPE SF redevelopment; the 55‑unit project will reserve the majority of units for current Sunnydale residents and relies on sponsor credit for acquisition financing.
The Budget and Finance Committee advanced for full Board approval a purchase and sale and subsequent 99‑year ground lease for Parcel Q, the first parcel in the Sunnydale Hope SF public housing redevelopment.
Sarah Amaral (Mayor’s Office of Housing and Community Development) said the sponsor (Mercy Housing California/Related California) acquired the parcel and will credit a $3.0 million…
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