SFMTA Board of Directors Approves Awarding Predevelopment Agreement to Lead Developer
On November 21, 2022, the SFMTA Board of Directors approved the recommendation to award the Potrero Yard Modernization Project’s predevelopment agreement (PDA) to Potrero Neighborhood Collective, LLC (PNC) as lead developer.
San Francisco Mayor London Breed's office issued this press release. “Transit and housing should go together, whether that’s building dense housing on transit lines or recognizing opportunities like this to not only modernize a bus facility, but also how we think about building more housing while we do,” said Mayor Breed.
The successful proposal’s conceptual design is for a modern, three-story bus storage and maintenance transit facility and approximately 575 affordable rental units for those with low or moderate incomes.
Approximately half of the units are planned for low-income seniors, families and single-occupant households. The “low-income” designation is based on earning levels of 80% or below of the Area Media Income (AMI). The remaining units will be available to “moderate-income” households earning between 80% and 120% of the AMI. Many SFMTA staff, including bus operators and maintenance staff, fall within this income bracket.
The current five percent “concept design” serves as a starting point for Potrero Neighborhood Collective to work together with the City and project stakeholders to further develop the design and start the process that will produce the final project and housing agreements.
This unique use of a public resource to advance the City’s housing goals while improving desperately needed transit infrastructure would make the facility the first of its kind in the nation.
Read more about the project. We look forward to launching our next rounds of outreach in the coming months.