The San Francisco Board of Supervisors has unanimously approved Brookfield Properties’ plans to revitalize the underutilized parking lots surrounding Stonestown Galleria on the city’s west side. The project, expected to be completed in phases over a period of approximately 20 years, will include new housing units, a vibrant merchant main street, and public parks and plazas.
Brookfield Properties will construct 3,500 residential units ranging from four to 18 stories high. This includes an allocation of 20% for affordable housing and an additional 200 units designated for seniors. A new “Main Street” featuring retail shops, restaurants,and entertainment spanning about150,000 square feet will run along 20th Avenue.
“We are delighted with the collaboration and support we have received from both the local community and city officials,” stated Christie Donnelly,senior director of development at Brookfield Properties.”Stonestown as a town center aligns with the city’s goals for increased housing options while also enhancing its role as a hub for community activity.We have faced various challenges throughout this process including plan revisions,a global pandemic,and economic uncertainty.However,in response to feedback received from stakeholders we have continuously improved our project recognizing that providing new housing is not solely our responsibility but rather,a shared one withthe City.”
Construction planningandcity permittingwill take place over two years prior togroundbreaking.The master plan was developed in partnershipwith SITELAB Urban Studio.
This article originally appeared on Connect CRE.
