The site spanning 950-974 Market Street is being razed to make way for a major mixed-use development that overcame community opposition after several concessions.
Local developer Group i is constructing 242 residences and 232 hotel rooms above 13,000 square feet of ground floor retail and a 2,000-square-foot space that will house a nonprofit at the corner of Turk and Taylor streets.
Initial plans for the project were opposed by LGBTQ group the Q Foundation because it was not required to undergo a full historic and environmental review.
Since its approval by SF Planning, Group i has negotiated with community groups and LGBTQ advocates to support a full historical survey and committed $300,000 to support preservation efforts in the recently-designated Compton’s Transgender, Lesbian, Gay and Bisexual (TLGB) District.
That payment is due when to the city when the project receives its first construction permits, said project manager Michelle Lin.
The developer is not offering on-site affordable housing but is working with the city, the Tenderloin Neighborhood Development Corporation and the Tenderloin Housing Clinic to develop affordable units nearby. Group i is purchasing the land at 180 Jones St., currently a surface parking lot, and will deed it to the Mayor’s Office of Housing and Community Development.
The $12.8 million payment in lieu of on-site affordable housing, on top with the deeded site, will support the development of 60 to 70 new efficiency affordable housing units, according to Group i.
The nonprofit space on the corner of Turk and Taylor will house the Magic Theater’s Magic Lab, which will provide community programming throughout the day in exchange for a rent-free 10-year lease.
Plans for the development will include entrances for residents, hotel guests, and visitors on both Market and Turk streets, and there will be public open space and widened sidewalks along Turk to offer flexible outdoor space for small gatherings, exhibits, or events.
The new condos are expected to be “moderately-priced homes near public transportation, jobs, and the epicenter of city life” intended to attract first-time buyers, according to Group i.
Construction is expected to be complete in the second half of 2020, Lin said.
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