June 23, 2015
More affordable multifamily housing is being proposed for the Tenderloin neighborhood. Mosser Capital Management is looking to build a new 11-story apartment building in the area at a cost of $21 million.
The project, on a current parking lot, would have 70 rental units totaling just over 48,000 square feet. It would also have room for a small retail space. Mosser already owns a 112-unit building next door.
Units would be about 350 square feet and exact pricing has not been determined yet by the firm. The facility would be considered group housing. Individual apartments in these development don’t usually have full kitchens, but often offer common areas for dining and socializing.