As much as the media likes to scare the life out of us thinking the world has ended and real estate will never again be a good investment, you need only look to the big boys to settle your nerves. As J.K. Dineen reports today in the San Francisco Business Times (the best source for all “big” development news)
The Tenderloin Neighborhood Development Corp. has acquired one of the most grungy, crime-ridden corners in the Tenderloin and plans to build a $78 million low-income housing development for families with a 15,000-square-foot ground-floor grocery store.
The 13-story, 130-unit building will be designed by David Baker + Partners, who designed TNDC’s highly regarded 67-unit Curran House at 145 Taylor St.
Eddy & Taylor Family Housing will be comprised of 130 studio, one-, two- and three-bedroom apartments. At least 20 percent of the apartments will be reserved for formerly homeless households. The building will include play areas for kids and community gathering venues.
Perhaps of greater interest to Tenderloin residents is the prospect of a grocery store on the site.
Nearly one-third of Tenderloin residents surveyed reported that it was difficult for them to get to a grocery store, and more than half obtain food from soup kitchens or food pantries.
This is just one of many articles cranked out by the San Francisco Business Times that rarely get mentioned in “mainstream” media. Why? Because they suggest things are moving forward rather than back.
-Developer takes on one of S.F.’s toughest corners [San Francisco Business Times, J.K. Dineen]
-New Development Resource [San Francisco Business Times]