Parkmerced project finally on tap
Remember that multibillion-dollar Parkmerced housing project that’s been causing a ruckus for years? It’s actually going to happen, according to the San Francisco Business Times.
The project has been delayed by court cases and financial issues, but recently developers Parkmerced Investors Properties filed an application with the city of San Francisco to begin the first of four phases, which will last for five years and see the completion of 1,572 apartments out of a proposed 8,900. The planned two-decade redevelopment project is expected to change the western side of San Francisco substantially.
“It’s been longer than (five years) since the west side of San Francisco has had significant numbers of new homes,” Parkmerced spokesperson P.J. Johnston told the Business Times. “It’ll take awhile for this project to reach maturation, but it’s important for the city and the neighborhood.”
The first phase will also entail demolition of above-ground parking garages and the construction of more than 500,000 square feet of underground parking, plus a community park and between 5,000 and 7,000 square feet of the planned 230,000 square feet of retail space. The finished project will also eventually encompass 80,000 square feet of office space.
The project saw lawsuits from opponents who said that it would displace existing residents at Parkmerced, which is the city’s largest private rental complex. However, developers contend that their application to the city provides for enough new units to be built before demolition of existing ones.
“Nobody’s being kicked out of their homes,” Johnston said.
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