The San Francisco Board of Education last night (Tue/10) approved a land swap with city government, gifting San Francisco an empty lot that it will use to build new affordable housing. That’s 115 units of living space for low income San Francisco renters, wrapped in a bow for the holidays.
The proposal was the brainchild of board members Hydra Mendoza-McDonnell and Sandra Lee Fewer, who worked on the measure with the Mayor’s Office of Housing for over two years. The district will trade a lot on 1950 Mission street and another on Connecticut in exchange for a property it currently rents from the city of San Francisco. The city will also pay SFUSD $4.5 million, according to district data.
Last night was the culmination of that work, which Fewer said was the right thing to do.
“Could we get more money from [selling] this property with a private developer? I’m sure. But would we get the value? No,” Fewer said at the meeting. Read more »