Affordable housing development announced in Excelsior District

Mayor Ed Lee on Monday morning announced a new housing development in the Excelsior District in which half of the housing units will be permanently rent-controlled and half will be permanently set aside as affordable housing.

The 103 rent-controlled units at 915-917 Cayuga Ave., currently the site of an underutilized warehouse, will include “just cause” eviction protections, according to the mayor’s office.

Two-bedroom apartments will cost between $1,333 and $2,909, depending on income level. The development is privately financed.

The 52 rent-controlled apartments will be the first of their kind added to The City’s housing stock since the passage of a state law in 1995 that largely restricts the ability to impose rent control on residences built after 1995. The new apartments are allowable under some of the law’s exemptions, according to the mayor’s office.

“This is an historic agreement that will offer more than 100 families affordable housing in perpetuity,” Lee said in a statement. “The challenge working and middle class families have in finding affordable housing requires us to consistently look for opportunities with developers willing to work out-of-the-box.”

SST Investmests, the owner of the site, approached city officials with the interest of crafting a project to address housing affordability issues in San Francisco, according to the mayor’s office.

“This is a unique situation where the city and a developer’s goal, to give back to The City and its residents, are aligned,” Lee said.affordable housingdevelopment boomexcelsior districthousingMayor Ed LeePlanningPolitics

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Cities including San Francisco, Oakland and Berkeley are calling for large grocery and drug store chains to pay employees hazard pay for working during the COVID-19 pandemic. (Shutterstock)
SF proposes $5 hazard pay law for grocery, drug store workers

San Francisco may soon join the growing number of cities requiring large… Continue reading

Hikers walk along a closed stretch of Twin Peaks Boulevard on Friday, Jan. 22, 2021. (Kevin N. Hume/S.F. Examiner)
SFMTA board to vote on future of Twin Peaks Boulevard

The proposal would keep Burnett Avenue gate closed to vehicles, open Portola Drive

Kindergarten teacher Jennifer Klein collects crayons from students in the classroom at Lupine Hill Elementary School on Monday, Nov. 9, 2020 in Calabasas, California. (Al Seib/Los Angeles Times/TNS)
Newsom, legislators strike deal to reopen California schools

Taryn Luna and John Myers Los Angeles Times Gov. Gavin Newsom and… Continue reading

A sign about proposed development of the bluff at Thornton State Beach in Daly City on Friday, Feb. 26, 2021. (Kevin N. Hume/S.F. Examiner)
Retreat center proposed at popular state beach

Daly City residents oppose construction on ocean bluffs

City supervisors are calling for an expansion of free summer programs for elementary age kids. (Kevin N. Hume/S.F. Examiner)
Supervisors urge city to provide free summer programs for all SFUSD students

San Francisco supervisors on Monday announced a proposal to expand summer programs… Continue reading

Most Read