San Francisco supervisors approve housing package that will add over 600 homes near Hayes Valley

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San Francisco supervisors approve housing package that will add over 600 homes near Hayes Valley
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The San Francisco Board of Supervisors unanimously approved a new housing package Tuesday that will add over 600 homes near the city's Hayes Valley neighborhood.

Proposed by Supervisor Dean Preston, the housing package will unstick a mixed-use project at 98 Franklin Street, permit 100 percent affordable housing at a parking lot on 600 McAllister Street and expedite the affordable housing project Parcel K in Hayes Valley.

"I am proud to push the envelope to create as much affordable housing as possible," Preston said. "In this down market, with many private developments stalled or abandoned, the City should aggressively pursue site acquisitions for affordable housing. Bold pursuit of these opportunities is the only way we will meet our affordable housing goals."

The package will help bring up to 671 homes to the area - 42 percent of which will be affordable housing. "We're pleased to see this legislation move forward that will help bring 98 Franklin one step closer to reality, eventually creating a new mixed-use building and much-needed affordable housing in the Hayes Valley neighborhood," said Matthew Witte, Senior Vice President of Acquisitions and Development with Related California. "We want to sincerely thank Supervisor Preston for his work to make this happen.

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