Plans for Folsom Street 143 Below-Market Apartments and Arts Space
As reported on Socketsite.com this is good news for a more forlorn stretch of Folsom Street at the northwest corner of Folsom and 16th. Final plans for an eight story building covering the entire corner and housing 143 affordable below-market apartments and a very spacious arts center have been submitted to the city. The arts center will be 12,000 feet, and an accompanying childcare facility will be 4,400 square feet. The project is tentatively referred to as 1990 Folsom Street.
The plans were developed by Leddy Maytum Stacy Architects, and the funding is coming from Proposition A and is proposed by the Mission Economic Development Agency and the Tenderloin Neighborhood Development Center.
Twenty nine of the apartments are dedicated to formerly homeless families, with the rest of the 143 apartments reserved for families earning between 50 and 60 percent of San Francisco’s Area Median Income—about $90,000 a year. The building will feature studios, one-bedroom and two-bedroom units.
The development team is intending to work with Art Space Development Corporation to run 1990’s PDR (Production, Distribution and Repair) space with affordable rates for artists “to ensure that the space is accessible to working artists in perpetuity, while also extending the experience of the Latino Cultural District to the northeastern, industrial portion of the community.”