SAN FRANCISCO, CA
“With over $1B in the new development pipeline, the Tenderloin is perhaps the most developmentally vibrant neighborhood on the West Coast. Few areas have experienced such substantial deliveries as the recent influx of boutique hotels, restaurants, retail, creative office and residential into this already robust and economically diverse neighborhood.” - Evolve president Chris Fraley
San Francisco's Historic Tenderloin District is the Heart of the City. . .
The historic Tenderloin district has always been a neighborhood for working-class San Franciscans. Supported by our long experience in the Tenderloin and San Francisco, working closely with residents, business owners, and local leadership, a shared vision for the future has emerged. While the Tenderloin contains thousands of low income subsidized housing units and some high end condominiums, it, like many San Francisco neighborhoods, lacks middle income new housing solutions close to work and public transportation. It is our mission to bring high quality workforce rental housing to San Francisco, to benefit the workforce, environment, and surrounding local community.
In partnership with Bridge Investment Group, Forge Development Partners is pleased to present TL 361, a two-building, 240-micro unit apartment home community strategically located and designed to address the workforce housing gap in a central San Francisco location. This Project, which will also features 3,000 SF of retail, represents an exceptional opportunity to live in an area with direct access to blue chip employers in the Government Center, Financial District, and South of Market (SOMA), rapid transit access via Bay Area Rapid Transit (BART) and all the various amenities of life in San Francisco. The development is unique in that it’s privately imposing income restrictions on 51% of the units to workforce income levels. Furthermore, 12% of the units have qualifying incomes at ~$32k/yr as controlled by MOH and the inclusionary housing ordinance, plus, an additional 39% of units will have a qualifying income of ~$75k/yr with a maximum qualifying income of ~$80k/yr. The remaining 49% of the units will be offered at market rate starting at approximately a $82k/yr qualifying income. These metrics will be annually means-tested for compliance and self regulated as required by the Freddie Mac funds. The project will be built to exceed LEED Gold Standards.
240 new housing units in a Group Occupancy format
All units with state of the art private baths and cooking facilities
Units are approximately 230 to 280 square feet
7 stories above 3000 sf of new retail
Shared roof decks and double height lounge on every other floor
State of the art GREEN technologies with very low energy and water costs
Turk & Leavenworth is located in the burgeoning Tenderloin neighborhood of central San Francisco. The project is two blocks from Market Street (the main thoroughfare of San Francisco), a 10-minute walk from both Union Square and the South of Market (SoMa) district, as well as a 25-minute walk to the Financial District. The Tenderloin is #2 on Zumpers “Most Desirable Neighborhoods.”
ADDRESSES SAN FRANCISCO’S CRITICAL SHORTAGE OF WORKFORCE HOUSING IN A PURPOSE-BUILT PROJECT
San Francisco has a large shortage of workforce housing. Forge Development Partner's approach is one of the most innovative solutions to the workforce housing crisis to come along in years. San Francisco Mayor London Breed has stated that between 2007-2014 San Francisco has only permitted 18% of our RHNA goals or 1,234 moderate income units. Our Turk & Leavenworth Development Portfolio directly addresses this shortcoming.
The Project enjoys convenient, walkable access to two BART stations, Muni and Caltrain (2017), with San Francisco’s Financial District a brief 5-minute ride along a light rail route that includes trolley cars from around the globe that have been reconfigured to share the same lines.
Walk Score = 99
Transit Score = 100
Bike Score = 95
DIRECT ACCESS TO WORLD CLASS RETAIL AND BLUE CHIP EMPLOYERS
Turk & Leavenworth is located less than a 25-minute walk from a multitude of top tier employers from finance, real estate, tech and various industries. Some of these employers include: Twitter, McKesson, Wells Fargo, PG&E, Gap, Charles Schwab, Salesforce.com, Uber, Levi Strauss & Co, City of San Francisco, Federal Offices and Hospitals.
TL361 LIVE SITE CAMERAS
Take an inside look at the Forge TL361 project & stay up to date with our progress from home with our LIVE site camera!
FORGE DEVELOPMENT PARTNERS TOPS OUT CONSTRUCTION ON TL361 PROJECT
MILESTONE IN CONSTRUCTION OF MIDDLE-INCOME HOUSING FOR SAN FRANCISCO'S ESSENTIAL WORKFORCE
On March 23 rd , Forge Development Partners topped-out construction on its TL 361 project by placing the last steel beam atop the structure. This is a milestone in the construction of the future middle-income housing project, anticipating occupancy in 2022. TL 361 is the first of multiple innovative projects that Forge is working on, designed to bring high-quality scaled housing to San Francisco. TL 361 will feature 240 apartments and 3,000 square feet of retail, strategically located in the Tenderloin and designed to address the workforce housing needs of San Francisco.