Hayes Valley
Hayes Valley is a new 195 unit mixed income family housing development located in the Western Addition, three blocks from the San Francisco Civic Center. It replaces 294 small severely distressed public housing units built in angles to the right of way, hidden passages and undefensible open spaces.
Defensible design features include front doors off right of way and secured gated backyards. An alarm system was also installed on each unit.
McCormack Baron Associates was the development partner.
1995 Grant: Completed in 1998 (South) and 1999 (North)
- Developer: McCormack Baron Associates
- Property Manager: McCormack Baron Management Services
- Costs - $22.06 M in HOPE VI Funds and $20.4 M in other Funds=$42.5 M
- Completed Product - Rebuilt a total of 449 bedrooms in family apartments to replace the original 463 bedrooms in predominantly studio and 1-bedroom units. The new housing includes 195, Victorian style townhouses and flats for families (12 1-bedroom, 124 2-bedroom, 47 3-bedroom and 12 4-bedroom).
- Land lease - The land is being leased to the private development partnership for 57 years as a condition of receiving private funds ($16,400,000 in Low Income Housing Tax Credit equity and $4,000,000 from an FHA insured first mortgage). An option for the SFHA to buy back the new improvements after 16 years is included in the land lease.
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