"The San Francisco Redevelopment Agency has awarded Golub and Co. and Mercy Housing the rights to develop 557 units of housing on Folsom Street. This is a deal that will generate upwards of $30 million that will be used for the Transbay Terminal.
The proposal includes 407 units of market rate housing and 150 affordable units. The site lays on Blocks 6 and 7 in the Transbay District on Folsom Street between Beale and Fremont; it is currently owned by the state. Golub and Co. would be responsible for the market rate housing while Mercy Housing will develop the affordable units. The minimum bid to build was $18 million and Golub outbid the competition by well over 30 percent. The $30 million will help pay for the $4.2 billion Transbay Terminal project..."
...Read this article and more in the new issue of MarketTracker, courtesy of Zephyr Real Estate. Also in this issue:
Most Recent Sales
San Francisco Market Overview (the Single Family Home sector is looking up!)
Make it Your Own- MarketTracker is now customizable for you.
New Construction in Pacific Heights
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