Massive Trinity Plaza project could play role in Mid-Market redevelopment
From today’s Examiner, “The proposal for Trinity Plaza Apartments in the heart of the troubled Mid-Market neighborhood is seen as a marquee project that will bring sleek glass apartment towers — some as high as 26 stories — along with cafés, shops and open space to a gritty corner at Eighth and Market streets. The project — among The City’s largest proposed housing projects at roughly 2,200 units — took a big leap forward with the recent publication of its environmental review. In the wake of the publication, critics of a plan to create a redevelopment area in Mid-Market are pointing to Trinity Plaza as proof that private investment is pouring into the area.”
“A Miami-based developer filed plans a few weeks ago to build 650 condos at 10th and Market streets. In addition, two massive projects, a 22-story condo tower and the Federal Building, are under construction around the corner from Trinity Plaza at Mission between Seventh and Eighth streets.”
“The proposal would demolish 377 rent-controlled apartments and replace them with 360 rent-controlled apartments along with up to 1,800 market-rate and below-market-rate-units.”
“The building boom around Trinity Plaza has fueled critics of a plan to turn Market Street between Fifth and 10th streets into a redevelopment zone. Redevelopment zones are intended to spur development in troubled areas by diverting tax money away from city coffers. Instead, the money is spent by the San Francisco Redevelopment Agency on affordable housing, infrastructure and, in the case of Mid-Market, on an arts and entertainment district.”
