San Francisco transportation officials have chosen a team of developers for the $1 billion revitalization of Potrero Bus Yard into a new bus facility and hundreds of units of housing.
The San Francisco Municipal Transportation Agency's Board of Directors on Tuesday authorized the agency to execute an initial predevelopment agreement with the Potrero Neighborhood Collective, led by public infrastructure developer Plenary Group. San Francisco's Mission Economic Development Agency and Young Community Developers — affordable housing developers based in the Mission and Bayview districts, respectively — as well as the Tabernacle Community Development Corp.
The developer selection was expected to occur six months ago, but was delayed along with the project's completion, initially anticipated for 2026. SFMTA officials said on Tuesday that the project — which calls for the restoration of the 107-year-old bus yard at 2500 Mariposa St. and the construction of up to 575 affordable rental units for low- and moderate-income households across seven floors above the new bus facility — will now likely wrap up in 2027.
“This project is unique in that we can maximize affordable housing for San Franciscans while dramatically improving working conditions for the staff who operate and repair Muni buses,” said Board of Supervisors President Shamann Walton in a statement following Tuesday's SFMTA meeting. “I am excited to reach this milestone for our community."
With the project now in the pre-development phase, stakeholders will as next steps conduct due diligence, risk analysis, housing feasibility studies, as well as early contractor procurement and conversations with the public regarding the project's design. Once the project is fully entitled, the current development team is expected to build, operate and maintain its various components.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »