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Committee backs $31.5 million tax-exempt bond request for Alice Griffith Phase 3
Summary
The Land Use and Transportation Committee voted unanimously to forward a resolution authorizing up to $31.5 million in tax-exempt multifamily housing revenue bonds to support Phase 3 of the Alice Griffith redevelopment, part of the Hope SF initiative; OCII said existing residents will not be permanently displaced.
The Land Use and Transportation Committee voted unanimously to forward a resolution authorizing up to $31,500,000 in tax-exempt multifamily housing revenue bonds to finance Phase 3A of the Alice Griffith redevelopment in the Hunters Point neighborhood.
Elizabeth Colomello, representing the Office of Community Investment and Infrastructure (OCII), told the committee the project at 2500 Aurelius Walker Drive is the third phase of a larger redevelopment under the Hope SF program and will result in a mixed-income, service-enriched community. "Consistent with those principles, no existing residents will be permanently displaced as a result of this development, and resident rent calculations will remain the same as they are today," Colomello said.
OCII said Phase 3 will comprise 122 units in one building split into financial phases 3A and 3B; only Phase 3A would receive the tax-exempt bond financing before the committee. Colomello described the overall redevelopment plan as replacing 256 public housing units across the Hope SF phases, plus adding new affordable, workforce and market-rate units.
Colomello outlined the financing package: a master developer subsidy from Lennar Corporation of approximately $10,000,000 for Phase 3, an OCII subsidy of about $10,500,000, and earlier federal support through a U.S. Department of Housing and Urban Development (HUD) Choice Neighborhoods Initiative (CNI) implementation grant awarded in August 2011. OCII staff said $30,500,000 in CNI funds were awarded in total, with $21,350,000 allocated for housing development at Alice Griffith. She added construction was slated to begin in February 2016 and reach completion by late 2017 to meet HUD grant expenditure and substantial completion deadlines.
A public commenter, Ace Washington, raised concerns about displacement and the broader community impacts of redevelopment, saying residents had limited information about the process. "The residents don't know hella beans what's happening," Washington said, urging greater community engagement.
After presentation and a brief public comment period, Chair Malia Cohen moved to forward the item to the full Board with a positive recommendation; Supervisor Jane Kim seconded the motion, which passed unanimously. The committee did not take a final financing action; the measure will return to the full Board of Supervisors for final consideration.
