The mayor of San Francisco announced plans to convert an old administrative building, owned by the school district, into housing for teachers. It’s a long-awaited idea that has finally come to fruition.
Heather Knight reports that San Francisco Mayor Ed Lee "has picked a site for teacher housing: the Francis Scott Key Annex at 1360 43rd Ave. in the Outer Sunset."
According to the article, the city "will commit $44 million in city money to build 130 to 150 rental units of teacher housing and will seek a developer as soon as possible."
The article also details the long history of the idea of teacher housing in San Francisco, where high housing costs and a cash-strapped school district create a sore need for housing options for the city's teachers.
As for the development deal that will make the project happen, "the Francis Scott Key Annex consists of a ramshackle, century-old building used for administrative purposes," according to Knight. "The city’s $44 million would help cover pre-development and construction costs," and a housing developer will likely pay for a ground lease.
FULL STORY: Mayor comes up with $44 million for S.F.’s first teacher housing
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