A mixed-use development proposed to replace City College’s office building and parking lots at 33 Gough St. is seeking height and density bonuses by including larger residential units, Hoodline has learned.
The plans, filed by Integral out of Atlanta, Ga., include 433 new residential units, of which 40 percent would be two bedrooms or larger. The tower would be adjacent to a nine-story building to be built on the former site of Flax Art & Design.
The development would also include a new 9,514-square-foot public open space, as well as several roof decks and courtyards reserved for residential use only. The plans also include 238 vehicle parking spots and 206 bike parking spaces.
The project—a mixed-use development with a tower that will exceed 250 feet in height — also aligns with the intentions of the Van Ness and Market Downtown Residential Special Use District (SUD), created in 2008.
The SUD is part of the Market and Octavia Area Plan, which encourages the development of the “Market Street Hub” — a mixed-use, high-density, transit-oriented neighborhood surrounding the intersections of Market Street and Van Ness Avenue and Mission Street and Van Ness.
The property would have to be rezoned to allow for residential and commercial use before the project can proceed, and the plans filed last month are part of a “very prelim[inary] application solely for review under the Hub rezoning,” Jay Stark, an investment manager with Integral, told us.
He added the residential tower is planned to be rentals, but no major architectural or programming work has been done yet.
Integral has entered into an agreement for a 75-year lease with CCSF with the right to extend for an additional 25 years. Under the agreement, CCSF will receive $11.5 million upfront once all the lease, disposition and development paperwork is filed and complete.
The college district would also receive 15 percent of an expected post-construction rent of $400,000/year, and the potential for additional rental revenue based on the development’s ongoing profits.
CCSF has also agreed to allow the developer to investigate ways to lease out the existing two-story building for at least three years to make some profit off the property in the interim between signing the lease and getting the development proposal approved by the city.
Integral would still need to obtain temporary use authorization from the Planning Department for any such short-term leasing to occur.
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