District could raise $100M and fuel construction of 900 housing units
By J.K. Dineen
San Francisco Business Times
The cash-strapped San Francisco Unified School District is looking into unloading eight properties that could pump upwards of $100 million into the schools and potentially free up land for as many as 917 housing units.
The SFUSD this week agreed to hire CB Richard Ellis Consulting to evaluate a group of sites totalling 11.2 acres that, with special zoning changes, could accommodate 917 housing units.
The properties extend from the Richmond to the Marina . A 36,000-square-foot site just steps from the 16th Street BART station at 1950 Mission St., for example, is zoned for four-story residential and could house 181 units. A defunct child care center at 1155 Page St. , a block from Buena Vista Park , could add 36 units. The largest site — 83,000 square feet of open space at Seventh Avenue and Lawton Street — could be developed into 413 homes, although any construction there would be battled by dog walkers and residents who have long used the sloping grass quad as an ad hoc park, as well as seasonal marketplace for pumpkins and Christmas trees.
The properties could be leased or sold outright, depending on market demand, said Philip Smith, the district’s director of real estate