The San Francisco Planning Department released a proposal on Thursday detailing a new approach to the redevelopment of the Central SoMa region. The plan calls for up to 7,500 new homes (33 percent of which would be offered at below-market rates) spread across 230 acres of currently underdeveloped land, which could alleviate stress on the City’s overburdened affordable housing supply. An estimated 45,000 new jobs and $350 million in additional property taxes would be generated by 2040.
The area surrounds Fourth Street, underneath which San Francisco is constructing the new Central Subway.
Read more: San Francisco Examiner New SoMa plan could produce $2B for SF