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Housing Authority authorizes Restore Rebuild submissions for 1303 Larkin and 2970 16th Street
Summary
The Housing Authority authorized staff to submit evidentiary documents to HUD under the Restore Rebuild program for 1303 Larkin Street (32 units) and 2970 16th Street (122 units), approving mixed-finance steps that will convert public housing to RAD project-based vouchers; commissioners asked detailed questions about resident transitions and budget risk related to rent augmentation.
The Housing Authority of the City and County of San Francisco on Oct. 23 authorized the acting executive director to submit evidentiary documents to the U.S. Department of Housing and Urban Development for Restore Rebuild financing for 1303 Larkin Street and 2970 16th Street, a step that moves both projects forward in the HUD RAD conversion process.
William Wilcox, bond program manager at the Mayor’s Office of Housing and Community Development, said 1303 Larkin is a 63-unit, 100% affordable property that will add five units and convert many SROs into studios and one-bedroom units. He said the authority is providing a permanent mortgage and a city pre-development and immediate-repair contribution of $2,500,000, and that the Chinatown Community Development Center will make a sponsor loan of $1,000,000 to cover prepayment of an air-rights lease. "We're going to begin construction in December 2025 because we have to to preserve our qualified Census tract basis boost," Wilcox said, noting an expected construction completion in March 2027 and lease-up by May 2027.
Staff described the Restore Rebuild pathway as a multi-step process: submit anticipated post-conversion RAD rents, file a mixed-finance development proposal, construct the project as public housing, then immediately convert the units to project-based Section 8 via RAD. The board voted to authorize the acting executive director to execute mixed-finance evidentiary documents and regulatory agreements for 1303 Larkin and for 2970 16th Street.
On 2970 16th Street, MOCD staff presented a larger permanent supportive housing project with 136 total units and 122 units proposed for Restore Rebuild vouchers. MOCD reported roughly $61 million in financing commitments for the project, including $16 million in state 'No Place Like Home' funds, and said preserving a qualified census tract (QCT) status was essential to secure an estimated $10 million more in tax-credit equity; staff said the project must close by Dec. 12 to retain the QCT basis boost.
Commissioners pressed developers and staff on resident transition and communication. A Chinatown Community Development Center project manager said CCDC holds regular resident meetings, provides in-person translation (including Cantonese and Spanish) and engages a relocation consultant to meet one-on-one, with 90-, 30- and 7-day written notices ahead of moves. A public commenter, Margaret McNulty of Resident Council Advisors, urged that resident councils be trained and engaged after project completion.
Board members also examined the budget mechanics for potential rent augmentation under RAD: staff said HUD provides RAD-level rents and, where permitted, the PHA may augment rents up to the payment standard using HAP reserves; for the 1303 Larkin pilot the projected first-year reserve need was described as roughly $330,000–$400,000. Staff emphasized there is no obligation today to augment rents and that any augmentation request would return to the commission for approval after closing.
The motions to authorize submission of evidentiary documents for both 1303 Larkin Street and 2970 16th Street passed by unanimous roll call vote.
