Housing affordability is nothing new in our area. San Francisco Business Times reports that developers plan to kick off construction on 240 microunit apartments in San Francisco’s gritty Tenderloin neighborhood.
The $100 million project, known as TL 361, combines 146 apartments at 361 Turk St. and 94 apartments at 145 Leavenworth St. that are targeted at various income levels.
The idea behind the project is to create cost-efficient homes for low-income renters and those who fall into the “missing middle” — workers who don’t qualify for subsidized housing, but also struggle to pay market-rate rents.
“This first project will demonstrate the applicability of our model to provide high-tech, high-touch and highly desirable housing solutions in downtown settings,” said Richard Hannum, founder of Forge Development Partners, one of the developers on the project, in a statement.
The buildings, designed by Jorge DeQuesada and AMA Architects, contain homes measure about 250 square feet. The contractor, Centric Construction, expects to complete the homes by the end of 2020.
More details from BizJournals.com can be found here.