Brookfield has reach an agreement with city officials on a mega-project that will build 3,500 housing units at the 40-acre Stonestown Galleria in San Francisco.
Under the terms of the deal, the mall owner will make 20% of the units—about 700 homes—affordable. The new housing will include a senior village and a senior center, according to a report in the San Francisco Chronicle.
The deal must still be approved by San Francisco's Board of Supervisors, who recently reduced the percentage of affordable housing that developers are obligated to include in projects from 23.5% to between 12% and 16%, depending on the size of the project.
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