MidPen Housing and Tishman Speyer are poised to build an eight-story affordable apartment building in San Francisco’s Fillmore District.
The Foster City-based affordable housing nonprofit and the New York-based developer have requested building permits for a 92-unit complex at 850 Turk Street, SFYimby reported. Construction is slated to start next year.
The permit filing comes a month after the joint venture requested a permit to build a similar affordable complex a block away at 750 Golden Gate Avenue, expected to break ground in December.
The developments will replace parking lots for the state Economic Development Department, made available by the California Surplus Land Act.
The price that MidPen and Tishman paid for the 0.43-acre lot on Turk Street was undisclosed. The building is expected to cost $98.8 million, or $1.07 million per unit.
Plans call for a 92-foot-tall building to include 28 studios, 16 one-bedroom, 21 two-bedroom, and 27 three-bedroom apartments for households that earn between 40 and 80 percent of area median income.
The white complex, designed by locally based David Baker Architects, will include a community room, learning center and lobby wrapped around a small courtyard. It will also include a rooftop deck and barbecue area.
A parking garage will provide 30 spaces for state EDD employees, plus residential parking for 111 bicycles, with cycling storage rooms on each floor.
Construction is expected to start in April and finish by early 2027, according to a project description.
The project is behind 807 Franklin Street, a seemingly stalled 48-unit residential proposal by Brown and Company, according to SFYimby. The project gained headlines in 2021 when the developer moved a Victorian home at the site to 635 Fulton Street.
MidPen Housing, founded in 1970 by tech moguls David Packard, Bill Hewlett and community and business leaders, has $2.9 billion in assets under management, according to its website. They include 137 managed properties, nearly 1,400 homes under construction and more than 4,600 in the pipeline.
This month, the affordable housing developer led by Matthew Franklin sought financing for a 332-unit affordable complex at the former naval air station at Alameda Point.
Tishman Speyer, founded in 1978, is behind the 2.7 million-square-foot development at San Francisco’s Mission Rock, which when complete will contain lab-ready offices, homes, shops and restaurants, plus 8 acres of parks. This month, the firm inked a deal with the Golden State Warriors for 70,800 square feet of offices.
— Dana Bartholomew
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