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Committee backs sending $1.313 billion multifamily revenue-bond request for Essex Hotel conversion to full Board
Summary
The committee advanced a resolution to authorize multifamily housing revenue bonds not to exceed $1,313,000,000 to convert the Essex Hotel into 108 permanent supportive housing units for formerly homeless residents; Mayor—s Office of Housing said work could begin in about two weeks.
The Budget & Finance Committee voted to forward to the full Board a resolution authorizing the issuance of multifamily housing revenue bonds of up to $1,313,000,000 to finance conversion of the Essex Hotel at 684 Ellis Street into supportive housing.
Joe Olipski, representing the Mayor—s Office of Housing, said the project would convert a 108-room residential hotel on the corner of Larkin and Ellis into permanent supportive housing sponsored by Mercy Housing California and Community Housing Partnership. "Significant seismic reinforcement upgrades, weatherproofing, accessibility upgrades, and a variety of other rehabilitation activities will be paid for with the proceeds of these bonds," Olipski said. He added supportive services would be provided on-site through the Department of Human Services and estimated rehabilitation could begin in about two weeks with full occupancy approximately a year later.
Committee members expressed support for turning an underused building into housing for formerly homeless individuals. There was no public testimony on the item at the committee hearing, and the chair moved the resolution to the full Board with the committee's recommendation.
What happens next: The Board of Supervisors will review the bond authorization and any implementing documents. If approved, the bond proceeds would fund structural and accessibility work and on-site supportive services for the converted housing.
