New plans have been filed for an 18-story residential infill at 101 Turk Street in San Francisco’s Tenderloin neighborhood. The proposal will replace a surface parking lot and a single-story vacant retail structure. The proposal will also retain a five-story residential building with 112 units managed by Veritas Investments at 57 Taylor Street.
Project details are scarce for 101 Turk Street. The initial plans specify that 116 new apartments will be created in the 18-story addition, with 4,390 square feet of shared open space shared across the site. Unit sizes will vary with 62 studios, 12 junior one-bedrooms,12 one-bedrooms, 18 two-bedrooms, and 12 three-bedrooms.
The project uses the state density bonus program, which allows the developer to increase the total residential capacity by 50% if a certain percentage of base units are designated as affordable.
Demolition will be required for a vacant single-story commercial structure at 105 Turk Street and the surface parking lot covering 111 Turk Street.
As mentioned in the introduction, the existing five-story residential building at 57 Taylor Street will remain undisturbed. The 1906-built structure includes retail above four floors of housing, with 112 studio units on-site. Veritas Investments is the manager on behalf of the property owner, while RentSFNow is the property manager.
City records show the property of 101-111 Turk Street, which includes 57 Taylor, last sold in 2017 for $25.5 million to Veritas. The property is located directly across from the recently-opened Serif SF by L37 Partners, a developer collaboration that separated in July of this year. Learn more about the mixed-use development from our previous coverage, which includes a site tour from July.
Future residents at 101 Turk Street will be a block from the MUNI buses and light rail along Market Street, just pass the Golden Gate Theatre. The Powell Street BART Station is just three blocks away. The project is also just two blocks away from another former subject of our coverage, the tallest exclusively hotel building in the city, the Hilton San Francisco tower.
A representative for Veritas confirmed for YIMBY that Veritas is involved with the project, describing the proposal as “a ground-up development that would take place on a parking lot behind an existing building we manage at 57 Taylor.” The representative shared that “entitlements will likely take years, so this project won’t be realized anytime soon. But this is a great opportunity to create housing on what would otherwise be a parking lot.”
UPDATE: Veritas has followed up to correct their statement, the investment firm manages the property at 57 Taylor, they are not the owners.
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Great that there will be more housing in a transit rich location. Hopefully there also will be secured space for alternative transportation like bikes.
Looks like the 2-story building (light orange) will be demolished IN ADDITION to the “vacant single-story commercial structure”? According to the outline in the leading image.
Good bye Aunt Charlies! So sad…………