SAN FRANCISCO, Dec. 14, 2010 /PRNewswire/ --
The AFL-CIO Housing Investment Trust (HIT) and Martin Building Company of San Francisco will announce the financing for Potrero Launch residences, a union-built project in the city's Central Waterfront district. The $80.4 million project will bring affordable housing, child care, and commercial development to an area that Mayor Gavin Newsom has called a priority for the city as it seeks to promote a mix of housing and business activity in the city's neighborhoods.
To help address the city's shortage of affordable housing, 39 of the 196 rental units at Potrero Launch will be affordable to residents earning up to 30 percent of the area median income.
The announcement will be made at the South Beach construction site of Arc Light Co. residences, another innovative housing development that includes Martin Building Company and the HIT
Key state and local officials will be on-hand, along with developer, Martin Building Company and financial partners, AFL-CIO HIT and Citi Community Capital to discuss financing of the project and the benefits to the community.
Bevan Dufty, District 8 Supervisor
Ted Chandler, Chief Operating Officer, AFL-CIO HIT
Rod DuChemin, Labor Relations Director, AFL-CIO HIT
Michael Theriault, Secretary Treasurer, SF Building & Construction Trades
Patrick McNerney, President, Martin Building Company
178 Townsend Street, San Francisco (at Clarence Street between 2nd and 3rd). The press conference will be held on-site, in the immediate front entry where construction is underway on the Arc Light Co. development.
Wednesday, December 15, 2010; press conference begins at 10:30 a.m.
Following the press conference:
Jill Helffenstein of Martin Building Company, +1-415-348-4664, firstname.lastname@example.org
SOURCE Martin Building Company