San Francisco Chronicle — “Folsom Tower Developer Agrees to 40% Affordable Housing”

January 15, 2016

"Nearly two years after the proposal was first shown to planners, Chicago architect Jeanne Gang’s rippled tower near the Embarcadero is on its way to the Board of Supervisors — with a boost in the amount of affordable housing that could ease the path to approvals.

"The proposed 400-foot tower would rise at the corner of Folsom and Spear streets in tandem with an eight-story residential building to the west, also designed by Gang. When the 40-floor, 391-unit complex was unveiled in 2014, roughly one-third of the units were affordable. Now, as rezoning efforts for the block begin, developer Tishman Speyer has agreed to increase the number of below-market units to 40 percent."

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