The San Francisco Redevelopment Agency is moving ahead with plans to purchase part of a bus layover terminal near Balboa Park BART station, where it will build housing for low-income residents.
Agency commissioners voted unanimously Tuesday to buy the land from San Francisco for $4.35 million and to loan $1.5 million to nonprofit developers Bernal Heights Neighborhood Center and Mercy Housing to construct a new building.
The site is at Ocean and Phelan avenues in the Ingleside neighborhood, in an area that is being overhauled by The City to improve pedestrian access and include more housing and retail.
Implementation of the plan is contingent upon the San Francisco Municipal Transportation Authority securing enough funds to relocate the existing bus loop nearby.
The new building is expected to include at least 50 apartments, ranging from condos to three bedroom apartments, according to Doug Shoemaker, Director of the San Francisco Mayor’s Office of Housing, which is helping coordinate the project.
Up to 80 units of housing will be built, redevelopment agency documents show.
At least 20 percent of the units will be available for at-risk 18- to 24-year olds who are homeless or at risk of becoming homeless.
Some of the units might be provided to under-18s if they are runaways or homeless and don’t qualify for foster care, agency documents show.
Stores will fill the ground floor of the new building and construction timelines are unclear, according to Shoemaker.