Tag Archives: rent

SAN FRANCISCO TO BUILD RENT-FREE, 13-STORY BUILDING ON FORMER MCDONALD’S SITE

From McDonald's to a 13-story complex
From McDonald’s to a 13-story complex

SAN FRANCISCO, California (The Adobo Chronicles ® )  – The City and County of San Francisco is trying its best to rid itself of the reputation of being one of the places in the U.S. with the most expensive rent, what with the monthly apartment rent averaging in excess of $4,000.

As more and more high-rise condominiums are springing up everywhere in the city, Mayor Ed Lee and the County Board of Supervisors announced the building of a new, 13-story complex at the former location of McDonald’s on 600 Van Ness Avenue (@Golden Gate) which recently closed its doors after more than three decades of operation.

Lee said that this is just the beginning of a 10-year strategic development plan to ease the critical housing shortage and sky-rocketing rents in the city.

Unlike other government housing projects,  the proposed high-rise will be rent-free for those who qualify.

Among other criteria, future residents of the new building will have to be convicted of a crime committed in San Francisco.

The multi-million high-rise project is a county jail.