New building permits have been filed to renovate 1000 Sutter Street into permanent supportive housing for unhoused residents in San Francisco’s Nob Hill neighborhood. The project aims to contribute 232 new dwelling units to address the housing crisis through the state’s Project Homekey fund.
The structure was home to The Granada, a large senior care facility. Pantoll Holdings and 655-685 4th Street LP sold the property to the Department of Homeless and Supportive Housing, together with Episcopal Community Services. The transaction was filed in August of 2020 for $46 million. The State of California provided $45 million for the acquisition through Project Homekey.
The permit filed shows the renovation project will cost an additional $23.3 million, involving upgrades to the foundation, the exterior envelope, adding offices, community rooms, laundry rooms, and restrooms. Individual residential units will be upgrades as well to accommodate long-term housing needs. Summing up the estimated construction job and sale price tags, the cost per unit is projected as just shy of $300,000.
Once complete, the project will contribute to Mayor Breed’s Homelessness Recovery Plan, aiming to create 1,500 new units of permanent supportive housing to serve a significant portion of the unhoused population in the city. According to the Mayor’s press release about Granada Hotel in late September of 2020, “As of July 2020, San Francisco has approximately 8,000 units of Permanent Supportive Housing that provide permanent homes and services to approximately 10,000 San Franciscans.”