San Francisco's Board of Supervisors has unanimously approved a development agreement to convert the parking lots surrounding the Stonestown Galleria into an urban village with thousands of units of housing and a pedestrian-friendly town square.

The project, which will develop 30 acres of surface parking lots, is set to include 3,500 new residential units in buildings ranging from four-story townhomes to 18-story apartment towers, including a 200-unit senior village.

In addition to a town square, there will be six acres of parks and a plaza to host a neighborhood farmer's market. About 20% of the housing in the development will be below market rate, the San Francisco Chronicle reported.

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