Parkmerced

Day 020

Parkmerced transformation wins approval Will Kane, Chronicle Staff Writer Wednesday, May 25, 2011 The San Francisco Board of Supervisors gave the go-ahead Tuesday to a $1.2 billion plan to transform the sprawling Parkmerced area from a car-centric neighborhood to a state-of-the-art sustainable neighborhood. In a 6-5 split, the board voted to replace 1,500 rent-controlled town homes with 7,200 new energy-efficient units over the next 20 to 30 years. When the project, which currently houses about 8,000 residents, is completed in 2040, an additional 14,000 people will be living in the 152-acre neighborhood, originally built in the 1940s as a suburban outpost in San Francisco. Units where rents are currently controlled will stay that way, but new ones will be rented or sold at market rate. The rebuilt Parkmerced will have a maximum of 3,200 rent-controlled units, the same number it has today.

Bout time too. Remind me to look up the split and vote accordingly.

Stellar Management - National
Stellar Management - San Francisco
Stellar Management - San Francisco
Supervisor Sean R. Elsbernd