Condominiums offered at below-market-rates (BMR) to moderate-income buyers are being developed at 350 China Basin Street, where an eight-story building on Mission Bay South Block 9A (MB9A) is in the design process. The edifice will ultimately feature 148 BMR condos available to first-time homebuyers who earn 80 to 110 percent of San Francisco’s Area Median Income (AMI). Groundbreaking is expected in April 2022.
AMI is updated annually by the United States Department of Housing and Urban Development (HUD) based on current-year income in a geographic area, with household size factored in. In San Francisco last year, 80 to 110 percent AMI ranged from $72,000 to $97,000 for a single person; $102,500 to $141,000 for a family of four. The Mayor’s Office of Housing and Community Development (MOHCD) administers BMR housing programs, with units offered based on AMI tables in the year of the sale.
Mission Bay 9A LLC, a subsidiary of Curtis Development, and Michael Simmons Property Development, Inc (MSPDI) are overseeing the project in partnership with Young Community Developers (YCD), a Bayview-based nonprofit.
“MB9A is a rare instance of an all-Black developer team developing a relatively large project in San Francisco,” said Michael Simmons, MSPDI principal.
YCD’s focuses on job readiness training. The organization has helped develop affordable rental housing, with a goal of eliminating displacement of local residents. MB9A marks the nonprofit’s first collaboration on homeownership.
“As an organization that takes a holistic approach to servicing the community, we couldn’t be more thrilled to be a part of a development being designed by Black-owned companies working alongside a Black-lead community-based organization,” Dion-Jay Brookter, YCD executive director, wrote in an email. “As we aspire to create greater opportunities for economic mobility within the City and County of San Francisco, we do so in partnership with the City, our partners, donors and most importantly the community. Collectively we are in a better position to navigate complex issues like housing and enhance the impact of our services.”
The building’s design was presented to the Mission Bay Citizens’ Advisory Committee (CAC) at a virtual meeting last January, where it was well received. Several attendees commented that moderate-income homeownership in Mission Bay has largely been overlooked; it currently consists of 129 BMR condos at Mission Walk on Berry Street, where maximum income eligibility for a resale unit tops out at 110 percent of AMI.
Last month, MOHCD listed a one-bedroom home at Mission Walk for applicants with maximum income at 108 percent AMI. Income for a two-person household can be no more than $110,700; for a family of three, $124,500; a family of four, $138,350.
When Mission Bay’s redevelopment is completed over the coming decade, 28 percent, or 1,806, of the 6,404 total housing units will be designated as affordable to moderate, low or very low-income households. Most will be apartments rented to families or individuals with incomes that range from 20 to 60 percent of AMI. In 2020, 60 percent AMI for a single San Franciscan was $53,800; 20 percent was $17,950.
Development of 350 China Basin is being financed through a private bank loan, with a subsidy from the San Francisco Office of Community Investment and Infrastructure (OCII). The project’s concept/schematic designs were approved by the OCII Commission in February.
“The next steps for the team over the next nine months or so is to advance the design drawings in order to refine the total development costs for the project, and to pursue other state and/or private funding awards, which will determine the OCII subsidy required for the project,” Annie Wong, OCII development specialist, stated in an email. “We expect to have more clarity on pricing, based on the construction documents, and on the OCII subsidy amount by January 2022.”
“We’re also exploring state Infill Infrastructure Grant and CalHome funding,” Simmons said, referring to housing development grants from the California Department of Housing and Community Development.
Block 9A is bounded by Mission Rock to the north, China Basin Street to the south, Terry Francois Boulevard to the east, and a pedestrian path extension of Bridgeview Way to the west. Just across Bridgeview Way, permanent affordable housing with onsite supportive services for formerly homeless individuals is under construction for 410 China Basin, on Block 9.