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Committee backs exchange of 1950 Mission Street to build affordable housing, city to pay $2.675 million to SFUSD
Summary
The Budget & Finance Committee approved a negotiated exchange that would transfer 1950 Mission Street (former Phoenix High School) to the city for affordable housing development in return for Parcel E and related lots going to the San Francisco Unified School District and a $2,675,000 equalization payment from the Mayor's Office of Housing.
The Budget & Finance Committee approved a resolution authorizing an exchange of city-owned Parcel E and two small triangular lots for fee ownership of 1950 Mission Street from the San Francisco Unified School District and a negotiated cash equalization payment of $2,675,000 from the Mayor's Office of Housing and Community Development.
John Updike, the city's director of real estate, said the city plans to expedite development of affordable family housing on the 1950 Mission site, which is just over three-quarters of an acre and has an appraisal-based potential residential yield of roughly 110 to 145 units. Updike described additional easements and small parcels included to facilitate utility access and HVAC equipment conveyance to SFUSD's 555 Franklin headquarters.
Budget analyst Mr. Rose confirmed the negotiated sales prices and noted inclusion of federal Community Development Block Grant funds among the Mayor's Office of Housing funding sources. Multiple community housing organizations, SFUSD staff and neighborhood advocates voiced support during public comment, highlighting long-standing interest in using the site for permanently affordable family housing.
Committee members praised the interagency collaboration and approved the item with the budget analyst's recommendations; the city will close escrow after final Board approval.
