5M Project

The project proposes the construction of three new buildings, including

1. a 288-unit residential building located on Mission Street which includes 57 below market rate units (all at 50% of average median income);
2. a 400-unit residential building on Natoma Street and
3. a 630,000-square foot office building on Howard Street. New buildings will range in height from roughly 200' to 450'. The project also involves retention of the existing Chronicle building on the corner of Mission and 5th Streets as well as the historic Dempster and Camelline buildings. The proposed project would create a diverse collection of buildings and open space: 35% of the site would be dedicated to existing and historic buildings, 48% to new construction, and 16% to ground-level open space.

Housing: 33% Affordable Housing in the District

• 631 market rate units.
• 33% affordable housing units (221 units) at AMI levels of 50% and below.
• Affordable housing includes on-site units, as well as senior housing and family housing.
• Affordable housing remains in District 6, with the goal of keeping it within a maximum 10-minute walk from the project site.
• Addresses City housing needs: Funding for affordable housing is front-loaded in the project so that it can be built more quickly than would otherwise be the case.

Open Space and Programming: Dedicated to Arts and Culture

• The Dempster Building, a historic resource, is the focal point at the center of 5M's open space. The building will be dedicated to arts and cultural uses, and the project will provide funding for arts and open space programming.
• The two-story Camelline Building, also a historic resource, will be retained adjacent to Mary Court and 11,500 square feet of open space.

Localized Public Benefits

Public benefits will be finalized through the approval process, and are slated to include, but not be limited to, the following:

• Funding youth development and wrap-around services for students of the Bessie Carmichael school, the only elementary and middle school in SOMA.
• Funding for capital improvements to the Gene Friend Recreational Center.
• A robust workforce program.
• Extensive transportation and pedestrian improvements including side-walk widening, pedestrianizing a portion of Mary Alley, and a mid-block crosswalk connecting Mint Plaza to the planned Mary Court open space.
• 212 units of new affordable housing all located within a 5-minute walk of the project site, including housing for homeless families and seniors.
• Donation of the 12,000 square foot Dempster Building to the Community Arts Stabilization Trust ("CAST") to provide affordable office space for arts and cultural non-profits.
• $1 million dollar contribution for capital improvements and technical studies for the Old Mint.