The San Francisco Redevelopment Agency (SFRA) celebrated the opening of the first below-market-rate housing for sale in the city’s new Mission Bay neighborhood in November. Mission Walk’s two five-story buildings include 131 affordable residences targeted for purchase by households earning between 80 and 100 percent of the 2008 area median income (up to $94,300 for a family of four). Sales prices range from $159,000 to $303,000 in a neighborhood where market-rate condos start at $500,000.
SFRA developed Mission Walk with Berry Street LLC, an affiliate of locally based nonprofit developer Bridge Housing Corp. It is part of SFRA’s Limited Equity Program, which aims to create permanently affordable home ownership units and offer residents an alternative to renting that allows them to build some equity and take tax deductions for home ownership.
The development is expected to achieve LEED Certification from the Washington-based U.S. Green Building Council. Low-flow plumbing fixtures, drought-tolerant landscaping, and water-efficient irrigation conserve water. Energy Star appliances, fluorescent lighting, non-electric heating, thermally efficient windows, a tight building envelope, shade trees, and roof-top photovoltaic panels reduce energy consumption. Indoor air quality strategies include well-ventilated rooms, and paint and carpet that emit low amounts of volatile organic compounds.