Serving 126 seniors with extremely low incomes including people who are living with health issues
O’Farrell Towers, a 12-story building located in the Tenderloin neighborhood at 477 O’Farrell Street, was acquired from Citizens Housing Corporation in 2010. The property contains 101 one-bedroom apartments for low-income seniors and ground floor commercial space that is leased to the San Francisco Senior Center. The proposed project consisted of a $12.4 million rehabilitation to address water intrusion issues, upgrade building systems and reconfigure ground floor space to better serve residents and building staff. While the primary purpose of the rehabilitation was mitigation of water intrusion issues, we also improved accessibility and reconfigured the ground floor community spaces and offices. Increased energy efficiency and green building methods were also priorities. The total estimated development cost was approximately $56 million. Anticipated funding sources included tax-exempt bonds, 4% tax credits, and a seller carry back loan.
Housing: 60,750 square feet
Commercial: 8,700 square feet