San Francisco breaks ground on affordable housing project

  • 2019-10-24
A long-anticipated project has broken ground in San Francisco, as developers get set to create an affordable housing project.

Tidewater Capital and the Olympic Residential Group are the developers of the project at 1028 Market Street. The building was constructed in 1907, and has had a number of uses including a theater, a strip club, and a billiards parlor. From 2015 to 2017, it was a gourmet food market known as the Hall, but after the Hall closed, the building has been untenanted.

The project presents a number of challenges. The building is on Market Street, a busy thoroughfare, and is on top of the BART tube, which will require extra care in the engineering and construction of the project. In addition, there will be no underground parking for cars, although there will be room for 124 bicycles. According to Dan Deibel, the principal of Olympic, it costs about $60,000 per space to build underground parking,. He adds that residents may park in nearby garages.

Housing units in the building will include 26 apartments available at rent below the market rate, in addition to a mix of other configurations, from studios to three-bedroom units. A deck on the roof will offer barbecue grills and fire pits, and the building will have a fitness center and club room. Six thousand square feet will be designated for retailers, including a cafe. Brochure printing can create materials illustrating the amenities of projects like this.