Support for a nonprofit social innovation center
This petition made change with 439 supporters!
We at Common Ground Urban Development (https://www.commongroundurbandevelopment.com/ are working on the 1850 Bryant Street project (1850 Bryant). It is a 172,000 sf ft. new construction commercial condominium (condo) building in San Francisco being specially constructed with a turnkey development approach to house nonprofit programs. 1850 Bryant is intended to expand the real estate ecosystem needed for nonprofit social service stabilization. 1850 Bryant has incorporated the best practices in nonprofit facility development; i.e. early site control, equitable financing structure, social impact capital, and shared management; to help protect nonprofits from San Francisco’s volatile commercial real estate rental market.
The San Francisco commercial real estate market is at an all-time high, as of July 2016 annual prices for leasing in San Francisco have hit $50-60/SF for office space. The 1850 Bryant project is utilizing New Market Tax Credits to reduce the purchase price. This financing tool provides the much needed equity for nonprofit ownership. 1850 Bryant has a pioneering financing structure envisioned by the developers of 1850 Bryant that will allow a cohesive group of nonprofits to participate in the equity and ultimately secure long-term ownership for program delivery.
As San Francisco repopulates, we have an opportunity to build space for organizations normally left out of real estate development projects. As a wealthy City, we can create a socially equitable platform for partnerships to provide a fully functioning facility that is enjoyed by the users, while allowing people to receive social services with the dignity they deserve.
Today: thor is counting on you
thor kaslofsky needs your help with “City of San Francisco: Support for a nonprofit social innovation center”. Join thor and 438 supporters today.