Glide partnership unveils $200 million housing development
9/6/2002 News media contact: Tim Tanton · (615) 742-5470 · Nashville, Tenn. By United Methodist News Service Glide Economic Development Corp., a nonprofit corporation that includes a United Methodist church among its partners, has announced a $200 million housing development in San Francisco.
About 200 people attended the Sept. 3 dedication ceremony for the development, which will provide affordable housing and mixed-use commercial space in the Tenderloin area, an economically disadvantaged part of San Francisco's inner city.
Ground will be broken in 2004, and work will be complete in 2007. The corporation said it would be the largest such project in the city in at least 10 years.
"The Pavilion development is a milestone project for the Tenderloin and for the city," said the Rev. Cecil Williams, chair of the corporation's board and chief executive officer of Glide Memorial United Methodist Church. "This project, which has been years in the planning, will serve as the engine that generates economic independence and vitality to a neighborhood that is home to a rich diversity of people and small businesses."
The development will include 400 units of affordable and market-rate rental housing, as well as a Pavilion with 100,000 square feet of exhibition, meeting and ballroom space, according to the corporation. Additional rental space will be provided for nonprofit organizations, social services and retail serving the neighborhood, and an underground parking garage with a 550-car capacity is planned. The development will be bordered by Eddy, Ellis, Mason and Taylor streets.
Glide Economic Development Corp. has received a $6.85 million grant from the city's Convention Facilities Department for pre-development expenses and real estate acquisition, according to the corporation. It also has received a $100,000 grant from the Evelyn and Walter Haas Jr. Fund and about $200,000 from the Hilton San Francisco. Remaining funds are expected to come from a variety of sources, such as city-sponsored bond financing and private donations.
Mayor Willie Brown Jr. called the Pavilion project "the crown jewel of a collection of efforts to transform the Tenderloin community for the better."
During the months ahead, negotiations will continue with property owners as Glide seeks to secure the titles it needs for the project, the corporation said.
The corporation brings public and private partners together in revitalizing low-income neighborhoods. Partners include the Mayor's Office of Housing, Hilton San Francisco, Tenderloin Neighborhood Development Corp., Glide Memorial Church, Related Companies of California, Evelyn and Walter Haas Jr. Fund, San Francisco's Convention Facilities Department, and the Parking Authority of the City and County of San Francisco. Founded in 2000, the development corporation has its offices at the church.
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