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1844 Market ("Venn")

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Posting Date

10/15/13 -  Revised 12/06/13

Type of Unit

Mayor’s Office of Housing and Community Development (MOHCD)

Inclusionary Housing Program

Below Market Rate Rental Program 

(Click here for program information)

 

Development Name

Venn

Address

1844 Market Street, San Francisco CA 94102

Number of Bedrooms

1 and 2 bedroom apartments

Neighborhood

Hayes Valley

Square Footage

1 Bedroom -  678;    2 Bedroom - 964

Year Built

2013

Maximum Allowable Income Level of Households

55% of Maximum Income by Household Size derived from the Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2013

A one person household can make no more than $38,950

A two person household can make no more than $44,500

A three person household can make no more than $50,100

A four person household can make no more than $55,650

A five person household can make no more than $60,100

 (Visit www.sfmohcd.org for larger household sizes.)

 

Minimum Allowable Income Level of Households

One-bedroom unit(s) – Household income must equal at least $2665 a month.

Two-bedroom unit(s) – Household income must equal at least $2980 a month.

 

Minimum Household Size Rule

Households must be at least as many people as there are bedrooms in the unit. Households may be larger than this standard based on the building maximum household size rule stated above.

Maximum Household Size Rule

Studio:             2 persons maximum

One Bedroom: 3 persons maximum

Two Bedroom:  5 persons maximum

Persons under the age of 6 years old do not count toward the maximum household sizes above.

Households who exceed the occupancy guidelines during the lease term must upon lease renewal must move out.

 

Other Qualification Notes

View tenant selection criteria by visiting www.thevenn-bmr.com.

Rent

2013 Maximum Monthly Rent By Unit Type (without utilities)

 55% of Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco

1-Bedroom - $1,066

2-Bedroom - $1,192

 

Deposit Required for Move-in

Deposit is equal to one month’s rent.

ADDITIONAL APPLICATION DEPOSITS WILL BE REQUIRED FOR ALL CREDIT RECOMMENDATIONS BELOW AN ACCEPT LEVEL, NOT INCLUDING A DENY RECOMMENDATION

Parking

One parking space per unit available for $100.00 a month

Which, if any, utilities are paid by the building?

None

How are utilities paid by the renter?

Renter pays own utility bills directly

 

Other fees and/or building rules

Bike storage which is optional at $25

Contact Person

Amanda Fraley

Phone

415.802.5877

Email

bmr.venn@riverstoneres.com

Website

www.thevenn-bmr.com

How to obtain an application

The application period for this project has passed.

Application deadline

The application period for this project has passed.

Address to which application should be delivered

The application period for this project has passed.

Open House Dates

The application period for this project has passed.

Information Session

The application period for this project has passed.

Lottery

CLICK HERE FOR THE VENN LOTTERY RESULTS

Term of Restriction

Per Notice of Special Restrictions No. 2007-I401213, the units are restricted for a period of fifty (50) years from the date of the initial rental of the BMR unit. As noted below, units may convert to affordable ownership units during this period, however.

 

Procedures Manual

All BMR renters must review and acknowledge the Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2013 that governs this property upon the signing of a lease for a BMR unit.

 

Special Note(s)

Applicants should be informed that BMR rental units may convert to ownership units in the future in some buildings.  In the case of conversion, BMR renters will be afforded certain rights as explained in the Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2013. Applicants should inquire with the building contact person listed above to determine if the building has a minimum number of years that it must remain a rental building, as some buildings may have such restrictions based on government sources of financing for their building. Other buildings may have no restrictions on conversion at all.

 Detailed Unit Information

BMR Unit #

Bedroom Count

Bath Count

Square Feet

Floor

Rent

Maximum Household Income Allowed

Minimum Monthly Household Income Required

Deposit Required 

Parking Price

M101

1

1

779

1

$1066

55% of AMI

$2665

$1066

$100

W101

2

1

972

1

$1192

55% of AMI

$2980

$1192

$100

W104

2

1

964

1

$1192

55% of AMI

$2980

$1192

$100

W107

1

1

678

1

$1066

55% of AMI

$2665

$1066

$100

M202

2

1

1083

2

$1192

55% of AMI

$2980

$1192

$100

M208

1

1

680

2

$1066

55% of AMI

$2665

$1066

$100

W207

1

1

678

2

$1066

55% of AMI

$2665

$1066

$100

M301

1

1

779

3

$1066

55% of AMI

$2665

$1066

$100

M308

1

1

680

3

$1066

55% of AMI

$2665

$1066

$100

W306

2

1

984

3

$1192

55% of AMI

$2980

$1192

$100

M403

2

1

1009

4

$1192

55% of AMI

$2980

$1192

$100

W403

1

1

682

4

$1066

55% of AMI

$2665

$1066

$100

M503

2

1

1009

5

$1192

55% of AMI

$2980

$1192

$100

W507

1

1

680

5

$1066

55% of AMI

$2665

$1066

$100

Last updated: 12/6/2013 4:26:19 PM