An affordable housing project built by good-paying union labor is coming to fruition in San Francisco. Representatives from Ullico, the only labor-owned insurance and investment company in the U.S., recently visited the 1400 Mission project. The new 15-story below-market-rate residential project is being built with union labor under terms of a loan provided by Ullico, the Union Labor Life Insurance Company. The company announced last November that it would provide a $46 million loan to finance the project as part of its J for Jobs program.
The nonprofit education and research organization Urban Land Institute hosted a forum in April titled “Development, Voter Elections, and the Future of the San Francisco Waterfront.” At the center of the discussion was Prop. B – the ballot measure that would mandate that any increases to height limits along the waterfront would be put to a citywide vote.
Demolition of the apartment building in Mission Bay just south of AT&T Park was being completed as Organized Labor went to press, with still no word of when the structure would be re-built or what caused the fire that destroyed the building on March 11. A five-alarm fire raged for several hours and stopped construction of the project which was almost 80 percent complete and set to open in August.
Swinerton Builders has begun work at 399 Fremont. The project includes a 42-story, 440-foot tower with 447 “ultra-luxury” rental apartments averaging 800 square feet each and an eight-story podium with 251 parking stalls. The two structures will total approximately 600,000 square feet. In 2006, the project was approved for 452 dwelling units.
A lawsuit challenging the Waterfront Height Limit ballot measure was denied by the San Francisco Superior Court on March 18. The measure will appear on the June 3 ballot as Proposition B and, if passed, would impose tighter restrictions on waterfront development by requiring voter approval for projects that exceed existing height limits.
A lawsuit challenging the ballot measure that would impose tighter restrictions on waterfront development by requiring voter approval for projects that exceed existing height limits was filed in San Francisco Superior Court on Feb. 14.
Demolition work on the old Cathedral Hill Hotel on Van Ness Avenue at Geary is “on schedule and running smoothly,” California Pacific Medical Center spokesman Dean Fryer told Organized Labor. The general contractor for the all-union project is HerreroBOLDT, with subcontractor Ferma doing the demolition work.
The AFL-CIO Housing Investment Trust (HIT) is making a $58 million financing commitment towards construction of 101 Polk, an $82.8 million multifamily development in San Francisco. The all-union construction is expected to generate approximately 350 union jobs.
As San Francisco’s economy continues to boom, drawing more high-paid workers into the area, the city once again is in an affordable housing crisis that threatens to dislocate middle and working class people.