The block-square complex would be built by Bridge Housing, which builds many of the city's affordable housing projects. Bridge negotiated the deal with the agency after a private sector proposal for the property filed to close.
The Redevelopment Agency paid nearly $10 million for the 136,000-sf building at 5600 Third St. According to the city, the $65 million project will include rental and for-sale housing. Half of the 250 units will be senior housing and the other half will be affordable for-sale properties.
The city has selected architect David Baker has been selected and groundbreaking is scheduled for next year. The deal was brokered by Scott Mason of HC&M on behalf of Kortick, and Gary Cohan of Tri Commercial on behalf of the agency and Bridge.
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