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In Search of Sanity
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Discussion Starter · #1 ·
. . . the proposed mixed-use project which would yield 67 apartments for very low income households and 2,845 square feet of new commercial space on the ground floor continues to make its way through planning . . . .

The proposed building includes eight studios, 24 one-bedroom units, 25 two-bedroom units, and 10 three-bedroom units with the three-bedroom apartments ranging in size from 1,020 to 1,105 square feet, the two-bedroom from 750 to 880 square feet, the one-bedroom from 535 to 635 square feet, and the studios from 410 to 500 square feet . . . .

. . . an individual would have to make between $21,650 and $36,050 to (live here). A full-time employee at minimum wage would earn just over $21,000.
http://www.socketsite.com/archives/..._the_proposed_corner_of_sixth_and_howard.html

The project will replace the Hugo Hotel and its famous/infamous "defenestration" art piece depicted here (which has been removed this week):


http://www.socketsite.com/archives/..._the_proposed_corner_of_sixth_and_howard.html

Renderings:


http://www.socketsite.com/archives/...o-hotel-replacement-recap.html#comment-191680


http://www.socketsite.com/archives/...o-hotel-replacement-recap.html#comment-191680


http://www.socketsite.com/archives/..._the_proposed_corner_of_sixth_and_howard.html


http://www.socketsite.com/archives/..._the_proposed_corner_of_sixth_and_howard.html
 

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^^

I have mixed feelings about this development. I will miss the oddity of the building but will be glad a new "modern" building will be developed. To this day, I always marvel at the building stopped at the stoplight making a left turn onto 6 th going down to catch the freeway.

On a side note, the owners of the building were holding out for top dollar for the past many years. I know it is their right but there were other developments proposed where plans had fallen through because a price for the building could not be reached. I am glad the City pulled an eminent domain.
 

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In Search of Sanity
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3,689 Posts
Discussion Starter · #4 ·
Very classy :)
Classier than we knew:

Cost To Build Affordable Housing On Sixth Street: $690K Per Unit
September 5, 2014



With a 99-year ground lease from the City of San Francisco for which Mercy Housing will pay a total of $99 as proposed, the projected cost of building the affordable housing development to rise on the southwest corner of Sixth and Howard is $47,333,630, which includes $4,600,000 in consideration for the land.

With $1,110,264 allocated to the cost of constructing the restaurant/retail space on the ground floor of the building which will replace the old Hugo Hotel, the estimated cost of developing the residential units on the eight floors above will be $46,223,366, or roughly $592 per square foot.

And with a total of 67 residential units in the development, including one unit for a manager, that’s an average cost of $689,901 for each of the apartments which will rent for between $291 and $1,214 per month to households with very low incomes of less than 50 percent of the area median and possibly as low as 12 percent.

Responding to a note from the California Tax Credit Allocation Committee staff about the eyebrow-raising cost per unit for the development, Mercy notes that the high cost per unit is “attributed to soil conditions, City Planning requirements, and unit size” . . . .
http://www.socketsite.com/archives/...dable-housing-sixth-street-690k-per-unit.html
 

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I almost forgot about this project. I was driving down Howard Street and came across it. No more chairs or couches hanging out the window. The deconstruction begins.

 
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