District 5 Supervisor Dean Preston proposed new legislation Monday that would create 671 new homes, more than 40 percent of them permanently affordable.
The legislation includes three projects, all near Opera Plaza: First, the city would purchase a planned apartment building with nearly 200 units at 600 McAllister St. Second, the city would build a new high school with housing above it at 98 Franklin St. And lastly, the city would secure one million dollars in fees to jumpstart an affordable housing project on Octavia Boulevard in Hayes Valley.
San Francisco rezoned 98 Franklin St. in 2020, but rising construction costs and supply chain issues have held up development. Preston’s legislation would increase the height, density, and number of affordable housing units in the proposed project. The development would also include a new French American International High School and ground-floor retail space.
The Hayes Valley site, known as Parcel K, sits adjacent to Patricia’s Green. San Francisco designated it for affordable housing almost a quarter-century ago, but construction has been delayed ever since. The outdoor venue company Proxy currently uses it for al fresco movie screenings.
The Board of Supervisors will vote on the proposal next Tuesday, July 18. Kyle Smeallie, Sup. Preston’s chief of staff, said he expects the legislation to pass.
