Officials plan to make the first $4.8 million loan to buy a San Francisco parking lot where developers plan to construct a 14-story building with 150 apartments and a ground-floor grocery story at Eddy and Taylor streets.It's great to see money being freed up for housing, post economic liquidity/loan contraction. Affordable housing is also chronically underfunded, as, you know, incentives skew more strongly toward non-affordable housing (read: luxury condos). Such is life, such is the market.
Of course, the shortage of parking in SF is a bone of contention. But in the heart of downtown, I can think of better lot uses than car storage.