A new conversion project has been proposed for development at 936 Geary Street in Lower Nob Hill, San Francisco. The project proposal includes the conversion of a six-story mixed-use into affordable housing. The mixed-use was built in 1923.
The project site is a parcel spanning an area of 0.08 acres. With City help, the six-story mixed-use property will be converted into affordable housing. The six-story currently has 31 studio units above two commercial ground-floor units. Along with the commercial units, the ground floor has one studio apartment unit, and two single car garages leased to residential tenants. The upper five floors each have six studio apartment units per floor.
At the time of acquisition, the building was in good to fair condition. Last sale was in December 2021 for $6,150,000.
The project has been approved by the City and County of San Francisco Mayor’s Office of Housing and Community Development as an affordable housing project, to participate in a rehabilitation program that utilizes city funding under SF Amin Code.
The estimated construction timeline has not been announced yet.
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Sorry, that is the Tenderloin.
Not clear what the scope of work is other than reabiltation of the existing units? As a SF tax payer what exactly is the responsibility of city funding ?
Geary Boulevard
Is the building current occupied? Are they going to evict those tenants for newer lower income tenants? Are they adding services?
It’s the Tenderloin. $200k a unit and in this location/condition.