SAN FRANCISCO (March 21, 2013) – Related California, a real estate developer specializing in affordable and market rate multifamily and mixed-use residential properties in California, today announced plans to develop a 3.36-acre site in San Francisco’s Potrero Hill Neighborhood. The mixed-use, mixed-income project, located at 1601 and 1677 Mariposa, as well as 485 Carolina is planned for 320 residential rental units and approximately 10,000 square feet of retail and commercial space. The new construction will replace a number of industrial and commercial uses, most of which plan to relocate locally. Rezoned as part of the City of San Francisco’s Eastern Neighborhood Plan process, the proposed development is ideally located near Jackson Playground and will itself provide more than twice the open space than what is required. "This opportunity to develop on a parcel this large and to include mixed-use and mixed-income is key to what Related believes most improves neighborhoods,” said Lydia Tan, executive vice president Related Companies of California. “We can really make a significant difference in a classic San Francisco neighborhood – and will work with the Potrero residents to bring it to life.” Related recently filed the Environmental Evaluation application and will be starting the environmental review process. Construction is slated to start mid-2014. “Related is deeply committed to working with Bay Area communities on a wide range of housing projects,” added Bill Witte, Related California’s president and CEO. To date, Related has completed 1249 units in San Francisco including The Paramount, a 487-unit mixed-income, mixed-use tower in the Yerba Buena neighborhood. In addition to the Mariposa property, Related has a number of other San Francisco projects in its pipeline, including 200 units at Mission Bay Block 7 and redevelopment of 1700 mixed-income units at Sunnydale Public Housing with Mercy Housing.
