San Francisco has selected three teams as finalists to develop a 17.7-acre site near the Balboa Park BART station, one of the largest vacant public parcels that could hold potentially thousands of units.
City staff picked three developer teams from nine submissions to submit more detailed development plans, with a goal of 50 percent affordable housing:
- AvalonBay Communities Inc. (NYSE: AVB) and BRIDGE Housing with Mission Housing Development Corp., Pacific Union Development Company, and Habitat for Humanity of Greater San Francisco
- Emerald Fund and Mercy Housing
- Related Companies with Sares Regis Group of Northern California, Curtis Development, and Tenderloin Neighborhood Development Corporation
Despite the prime location for transit-oriented development, plans to build on the site have been stalled for years. An area plan was adopted in 2009 and little has happened since then. It’s likely to be many more years before housing starts to rise on the site… (more)