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Subcommittee backs extended lease for Proxy project on Octavia & Hayes until 2021
Summary
The Budget & Finance subcommittee approved a lease extension with Proxy Development for Parcel K at Octavia and Hayes, allowing temporary retail and food vendors to continue through Jan. 31, 2021, with phased rent increases. City staff said the site will be redeveloped as affordable housing after the interim use.
The San Francisco Board of Supervisors Budget and Finance Subcommittee on Wednesday approved a lease amendment that extends the city's agreement with Proxy Development LLC for Parcel K at Octavia and Hayes through Jan. 31, 2021, with a phased increase in the monthly base rent to $7,200 effective June 1, 2015.
Connor Johnson, representing Supervisor London Breed, described the site as a temporary activation of a former parking lot created after the Central Freeway removal…
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