Wells Fargo Commercial Real estate has announced a $150-million financing package for more affordable housing at the Sunnydale-Velasco Housing Authority site.
Sunnydale Block 9, a joint venture between Related Cos. and Mercy Housing California, will consist of a 95-unit apartment complex at 1652 Sunnydale Avenue.
The project, which is the sixth component in the Sunnydale HOPE SF redevelopment, will consist of a five-story building featuring a mix of one-, two-, three-, and four-bedroom homes above a podium parking garage.
Van Meter Williams Pollack, which master planned the surrounding area, is designing Block 9.
"Block 9 is located at the intersection of the main neighborhood streets, Sunnydale Avenue and Santos Street," reads a narrative from the VMWP website. "The prominent east wing faces a park, community center and childcare to the east and the community lawn and garden to the south. Embodying a spirit of quiet elegance and welcome, the 95-unit building also features a double height lobby fronted by a generous entry court and linear park as well as two courtyards, one facing north to the McLaren Park hills, and one facing south to Sunnydale Ave and the neighborhood beyond."
The overally Sunnydale Hope SF Master Plan calls for 775 units of housing to replace existing buildings, as well as 995 units of affordable and market rate apartments across a 50 acre site.
