The Venn (1844 Market St), one of the Octavia Corridor/Market Street new builds that sits at the foot of the Castro next to the LGBT Center, is set to start allowing tenants to move in by December of 2013.
The lease list-price at the self-described, "center of it all", modern apartment, "is a new place for you to evolve, for you to love, for you to live", is as inflated and over the top as the rest of its new glass and steel high-rise cousins being birthed all over the City and neighborhood. These 671 square foot one-bedrooms are priced from $3,075 a month and 849 square foot two-bedrooms from $3,625 a month. Parking is yours at the low ball rate of $250 a space per month. Pets (no more than two, thanks) are welcome, but at an required additional charge of $50 each per month.
Fourteen of Venn's 113 units are being set aside as Below Market Rate (BMR) rentals. The units are part of the City's developmental Affordable Housing Program. There will be 8 one-bedrooms priced at $1,066 a month and 6 two-bedrooms for $1,192 a month. Parking will also be offered at BMR rates for these units at a hundred bucks a pop. Same pet policy price applies.
To qualify for these BMR deals households can make no more than 55 percent of Castro/Mid Market area median Income. That equates if you're single bring in no more than $38,950 a year. Married, or those living in sin sorts, can make no more than $44,500 per household. There are minimum earning needs required to apply: you must make at least $31,980 and $35,760 per year for either a one-bedroom or a two-bedroom respectively.
Wanna throw your hat into the ring for one of the fourteen? Applications for the BMR units are due by November 11, 2013 at 5pm.
Via SocketSite
Bay Area/ San Francisco/ Real Estate & Development
The Venn On Market St. Up for Grabs-BMR Units Available
Published on October 21, 2013
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