AMCAL Multi-Housing, a leading affordable housing developer in California, is teaming with Lennar Urban to bring 60 affordable apartments at Hunters Point Shipyards in southeast San Francisco.
AMCAL’s development on Block 49 is the first affordable housing in Lennar Urban’s initial phase of development at Hunters Point Shipyard-Candlestick Point, which is the largest public-private redevelopment effort in San Francisco history. With Block 49, AMCAL will provide much-needed new affordable housing in partnership with a leading market-rate developer.
"We think it is important to deliver the first affordable homes at the same time that we are building market-rate homes,’’ said Kofi Bonner, president of Lennar Urban, San Francisco, in a statement. “In this difficult funding environment, we are very pleased to have worked out a solution with AMCAL to convert a market-rate block into an affordable housing development. AMCAL's 35 years of development, finance and construction management expertise will allow us to deliver quality affordable homes a few years earlier than expected."
The sweeping redevelopment plans for the area include 12,000 homes, 326 acres of parks and open space, office space and shopping areas.
Block 49 is a five-level podium apartment community designed by David Baker Architects and Interstice Architects. Block 49 amenities include a ground-level garage with 45 car spaces, 50 bicycle parking spaces and quick access to the Innes Avenue bicycle route, a community room with kitchen and computer lab, centralized laundry room, barbecue areas, children’s playground, and communal decks with views of the San Francisco Bay.
Scheduled to be completed in 2015, the apartments will be affordable to households earning no more than 50 percent of the San Francisco median income.
Led by CEO Percival Vaz, AMCAL and AMCAL General Contractors have built 46 workforce housing developments, representing more than 4,000 units since 1995. Since 2003, the Agoura Hills, Calif.-based firm has been awarded over $392 million in low-income housing tax credits.