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Related just got the key approvals to move ahead with Transbay Block 8, a 554-unit residential tower, and the last parcel on Folsom Street. The Commission on Community Investment and Infrastructure just signed off on the project, which is being developed with Tenderloin Neighborhood Development Corp. Here's an exclusive rendering showing off where it'll sit. Expect 124 market rate condos, 280 market rate rentals and 150 below market rate rentals as well as 18k SF of retail. Approval of the schematic design and the Disposition & Development Agreement allows Related and TNDC to move ahead with purchasing the property and finishing the design. Construction should start in 2016.
Meanwhile, we just got an update on another high-profile project Related is moving forward on: housing replacing the Goodwill site at South Van Ness and Mission. The notice of preparation (NOP) should be going out in about two weeks, we're told.
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