CH Planning Sells Condo Project for Affordable Housing

San Francisco Embraces Affordable Housing as CH Planning Sells Condo Project Site

CH Planning has made a pivotal decision to sell its 50-story, 646-unit condo project site in San Francisco's Outer Sunset to Pacific Housing West. Pacific Housing West intends to replace the originally proposed project with an eight-story, 100% affordable housing structure, signaling a significant shift towards addressing local housing needs. This move aligns with San Francisco's ambitious plan to upzone commercial corridors for the creation of 34,000 new housing units by 2031. Raelynn Hickey, CEO of CH Planning, has expressed support for this new direction, while Planning Director Rich Hillis welcomes the potential for hundreds of new housing units in the area.

Key Takeaways

• CH Planning cancels the 50-story condo project, paving the way for affordable housing led by Pacific Housing West.
• The new plan features an eight-story building with 100% affordable units for moderate-income households.
• Legal battles and community opposition drive the project's cancellation, aligning with San Francisco's goal of upzoning commercial corridors for 34,000 new housing units by 2031.
• The shift reflects a growing trend in San Francisco towards addressing housing affordability, a critical issue in the city.
• Planning Director Rich Hillis welcomes the potential for hundreds of new housing units, foreseeing positive impacts on the community.

Analysis

This sale underscores a significant shift towards affordable housing in San Francisco, as the 50-story condo project gives way to an eight-story, 100% affordable housing structure. Legal battles and community opposition have played a crucial role in driving this decision, aligning with the city's plan to upzone commercial corridors for the creation of 34,000 new housing units by 2031. This shift has the potential to improve housing affordability, benefiting moderate-income households and low-income residents. However, it may adversely affect local luxury real estate developers and investors, as the demand for high-end properties could diminish. Over time, this trend could inspire other cities grappling with housing affordability issues to prioritize affordable housing initiatives.

Did You Know?

• Affordable Housing: Refers to housing subsidized or developed by organizations to be sold or rented at a price below the market rate, making it accessible to low or moderate-income households. This concept is paramount in addressing housing affordability issues in high-cost cities like San Francisco.
• Upsizing Commercial Corridors: A zoning strategy that allows for increased housing density along commercial corridors. This approach fosters compact, walkable communities, supports local businesses, and addresses housing shortages. San Francisco aims to upzone such areas to accommodate 34,000 new housing units by 2031.
• Pacific Housing West: A business entity committed to developing affordable housing projects. By acquiring the site from CH Planning, Pacific Housing West demonstrates its dedication to providing affordable housing solutions and addressing the city's housing crisis.