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Committee recommends Market Street project exchange that dedicates 101 Hyde for deeper affordability
Summary
The committee forwarded two linked items: a resolution approving conveyance for an 85-unit project at 1066 Market Street and an ordinance to waive inclusionary requirements in exchange for the dedication of 101 Hyde Street; planning staff said dedication would allow creation of more deeply affordable units and exempt 21,422 sq ft from floor-area calculations.
The Land Use and Transportation Committee considered Items 4 and 5 together: a resolution approving conveyance of real property for construction of an 85-dwelling-unit project at 1066 Market Street and an ordinance to waive certain inclusionary housing requirements for that project in exchange for dedicating property at 101 Hyde Street to the city.
Tina Chang of the Planning Department said the planning-code amendment would allow land dedication as an option to meet inclusionary requirements within C3 zoning districts, specifically dedicating 101 Hyde to the city and exempting 21,422 square feet from gross-floor-area calculations (and the corresponding requirement to purchase transfer-of-development-rights for that area). She said the Planning Commission recommended approval on June 16, 2016 (as reported in the presentation).
Project sponsor Meg Spriggs of Shorenstein Properties described the approach as a consensus-driven solution that will allow development of substantially more deeply affordable housing at 101 Hyde than on-site at 1066 Market. Don Fox, CEO of Tenderloin Neighborhood Development Corporation, said TNDC had filed an appeal but supports the land-dedication outcome because it enables more and deeper affordability. Mike Anderer of Demeriac Academy also voiced support, citing community benefits in the Tenderloin.
A committee member moved to send both items to the full Board with a positive recommendation; the motion passed unanimously and the committee report was filed with the clerk.
