What Would a Market Rate High-Rise Mean for the Tenderloin?

Jul 11 at 3pm

According to Socketsite, plans for a 12-story building at the corner of Mason and Turk are moving right along. The plans to add a "market-rate" housing complex to an area where violent crime is 35 times higher than the rest of the city and eight times higher than the rest of the Tenderloin were started by Heller Manus Architects and are now in the hands of SB Architects. The (not thathigh-rise will have retail space on the first floor and 109 units including 44 two-bedroom units and 65 one-bedroom units. The lot is currently a street-level parking lot that wraps around the Hotel Metropolis and would share the block with multiple SROs.

I'm curious who this building will be marketed to since "market-rate" seems to rule out low-income housing. And what, if anything, will a resulting influx of people with more money do to the neighborhood? According to The Examiner, the TL's residents have the lowest median household incomes citywide, making it hard to imagine many people in the neighborhood being able to afford these new units. Socketsite commenter "sfresident" echoed a similar concern when they wrote, "I hope a local housing 501 can get their hands on this. Otherwise this building could begin the TL gentrif. countdown." A lot of questions remain to be answered, but if the plans are approved, people could be moving in by summer 2016. Stay tuned, San Francisco.

[Via: Socketsite]

Image via Daniel Hoherd

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