A long-vacant former furniture store on the corner of 18th and Mission streets has been acquired by a local nonprofit that aims to build affordable housing and space for two neighborhood organizations. Mission Economic Development Agency bought the 9,673-square-foot lot at 2205 Mission St.
for about $5.875 million, said Christopher Gil, MEDA senior content marketing manager. The 18,345-square-foot building has been vacant for more than a decade, despite proposals to renovate it for a variety of uses, including a grocery store, a vegan brewpub, and most recently, a dialysis center, according to SF Planning documents. “The property was off market until last summer,” Gil said.
“We focused more aggressively on the property when it came on market.” MEDA used a combination of debt and equity to buy the space, using funding from the Low Income Investment Fund and support from members of MEDA’s Neighbor to Neighbor Fund, Gil said. Neighbor to Neighbor is a group of local residents “committed to ensuring the Mission remain a neighborhood of opportunity and supporting retention of our community-serving organizations, including arts and cultural anchors,” he added.
MEDA’s plans for the new building are still in the early stages, Gil said, so the group is hesitant to talk about potential project costs or development specifics. It plans to review initial concepts for the site with community members in early 2018, ahead of submitting its formal planning applications, he added. The current aim is to house two nonprofits in the two bottom floors of the building.
MEDA will work with Dance Mission, which is at risk of losing its current location, and Mission Neighborhood Center, which has a lengthy wait list for its early childhood program, to develop spaces. The condos that will be developed will provide homeownership opportunities for low- and moderate-income households that have been struggling to stay in the city. Read more from hoodline.com…
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