Sixteen years after developers started building housing in Mission Bay, the neighborhood is becoming a mixed-income community as market-rate and affordable projects sprout up on the former industrial site. More affordable housing will encourage more businesses and talented workers to come to the city. Meanwhile, the community provides not only commercial and residential land, but also some investment opportunities in real estate.
Dominated by biotech R&D buildings and UCSF’s medical and research facilities, Mission Bay needs housing to balance out its commercial growth. By this summer, 5,446 of the neighborhood’s 6,404 residential units will have been completed, a process which began nearly two decades before.
By the end of 2017, one market-rate project, One Mission Bay, and one affordable project, Five 88, will be completed, reflecting the economic diversity envisioned by city officials. Another market rate project, Eviva Mission Bay, has finished and is ready for tenants.
Read more: San Francisco Business Times Community begins to take shape in Mission Bay as affordable and …