SF Gate writes that Mayor Lee will announce nearly 1700 new low and middle income housing at the old Schlage Lock factory on Bayshore Boulevard.
“At long last the 20-acre Schlage Lock site, one of the largest available housing development sites in our city, will be reborn and transformed from an old rail yard and factory into a new mixed-use community in Visitacion Valley,” the mayor said in a statement.
The project is expected to generate about 2,800 construction jobs over the next 10 years and provide housing for 3,800 residents. The development agreement with United Paragon Corporation, the property’s owner, spells out the details of the project, including almost $12 million in city subsidies, some required zoning changes, height limits and design controls for the site. READ THE FULL STORY