Bridge Housing breaks ground on 90 Oakland units
Lots of talk about the affordable housing situation these days and, as Assemblyman Phil Ting, D-San Francisco, told The Chronicle this week, the need to bring all our stakeholders together to address it.
Lets make sure Bridge Housing is brought to the table.
On Friday, the San Francisco affordable housing nonprofit is being joined by a passel of local officials and bank executives at the groundbreaking of its latest project - 90 below-market rate rentals at the MacArthur BART Station in Oakland.
The $44 million residential building, named Mural, is merely the second phase of a $400 million transit-oriented development, appropriately named MacArthur Station, that will include 624 new market-rate and below-market-rate homes, commercial and retail space and other community facilities. Partners include the city of Oakland, BART and local banks that helped finance the project.
As the first housing development in the transit-oriented master plan for MacArthur Station, its the realization of a 20-year dream and very important for Oakland, said Bridge Housing CEO Cynthia Parker.
Since its launch in 1983, Bridge Housing has developed or co-developed 14,000 homes, mostly in California, more than one-third of them in the Bay Area. And theres more coming, including a 60-unit below-market-rate complex being leased on Natoma Street in San Franciscos South of Market, and 62 affordable apartments at the former St. Josephs Home for the Aged in Oakland.
In collaboration with San Franciscos Community Housing Partnership, Bridge Housing developed the Rene Cazenave Apartments, also in SoMa - 120 supportive housing units for formerly homeless people. First move-ins: early next month.
Monthly rents at Mural range from $450 for a studio to $1,100 for a three-bedroom apartment, open to residents with annual incomes between $28,000 and $47,000. One suspects theyll go very fast. The 60-unit Natoma Family Apartments, with rents from $711 to $1,569 (move in: late December) garnered 2,793 applications.
Theres an endless demand plus the rising cost of housing, said Parker. Were already seeing rent growth outside of San Francisco extending into Oakland. Were seeing a big jump all over the Bay Area.
-- Stakeholders and others concerned about affordable housing might want to check out Bridge Housings recently published book, Smart Living, Smart Growth, a free download at www.bridgehousing.com/news-media/publications.
For a hard copy, e-mail firstname.lastname@example.org.
Big, bigger, biggest: Google just keeps rolling along.
The Mountain View company said Thursday that it is once again going into the solar power business with private equity giant KKR, this time investing in six solar power projects - five in Southern California, one in Arizona - powering 17,000 homes beginning in January.
In 2011, Google struck a similar deal with KKR and San Francisco project developer Recurrent Energy to finance solar power in the Sacramento area provided by the Sacramento Municipal Utility District. The latest deal brings the value of Googles investments in renewable power projects (14 at last count) to more than $1 billion.
Hardly surprising, then, that the proprietor of the worlds biggest search engine is looking for more office space, including 360,000 square feet in Midtown Manhattan, along with 807,000 square feet it already has in Chicago. Add that to the 350,000 additional square feet it leased at San Franciscos Hills Plaza and the 901,000 square feet it leased in Mountain View this year.
Google is a monster engine everywhere, and were pretty thankful theyre in our world, Bob Chodos, a principal at Colliers International in Chicago, told Bloomberg.
And local brokers may be more thankful if, as is being reported, Google is once more nosing around Baghdad by the Bay. Two million square feet in Mission Bay (on land now owned by Salesforce)? Some - surely not all! - of the 80-story, 1.3 million-square-foot Transbay Tower South of Market? According to published rumors, its being discussed.
All this and barges, too.
Helping hand: Add Wells Fargo to the list of Bay Area organizations contributing to Typhoon Haiyan relief.
The San Francisco bank is kicking in $250,000, half to the American Red Cross and half to the International Medical Corps. Its also temporarily waiving remittance fees for money being sent to families in the Philippines via its ExpressSend service.
Wells Fargo is committed to helping the community recover, said Aveek Mukherjee, a senior Wells Fargo executive.
Teach your listeners well: Being a fan of Crosby, Stills, Nash & Young, not to mention the Hollies, I (yup, aging Baby Boomer) have to take note of the Commonwealth Clubs departure from the usual roster of business and political thought leaders.
On Friday, Graham Nash gets wild with the Commonwealth Club audience, meaning hell be talking about his autobiography, Wild Tales: A Rock & Roll Life and other matters of social import, and signing copies of the book.
Friday, 6 p.m. Nourse Theater. Premium prices. More details at www.commonwealthclub.org/events.
Andrew S. Ross is a San Francisco Chronicle columnist. E-mail: email@example.com Twitter: @andrewsross