San Francisco Multifamily Tower 1965 Market Street Could Be First Built Under SB 423

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1965 Market Street
San Francisco became subject to the law, which eliminates discretionary review for eligible residential projects, late last month, after the state concluded the city failed to build enough housing in 2023.

Keller Grover Properties, the developer of 1965 Market Street, told San Francisco’s planning department it would attempt to use Senate Bill 423 just days after the city became subject to the streamlining law.

1965 Market Street will bring 96 new homes to the Upper Market area and serve as a distinctive, welcoming gateway to the historic Castro neighborhood. Architectural firm David Baker Architects has released numerous renderings of the upcoming project along with details of the project.

1965 Market Street
Part of the residential zoning in the Market-Octavia Plan, this new building will incorporate and bolster the historic existing building on the corner of Market Street and Duboce Avenue and add new housing as well.

The development is a composition of three united but distinct forms: the existing historic building and towers, an 8-story building on the current parking lot, and a 7-story portion that steps back and complements the existing building with a simple and subtly curving façade.

The notice of intent submitted to the city on July 2 does not constitute a formal development application, although it reiterates the details of the planned 23-story tower. The project will include 12 studio apartments, 80 one-bedroom apartments, 98 two-bedroom apartments and 10 three-bedroom apartments, with 28 of its units designated affordable.

Under SB 423, the city is required to provide near-automatic approval to projects that qualify, while it restricts opponents’ ability to appeal those decisions. The bill, sponsored by Sen. Scott Wiener, shortens an entitlements process that can take several years to a few months. Other Bay Area jurisdictions besides San Francisco are also subject to the provisions of SB 423.

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