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NORTHERN CALIFORNIA NEWS
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New Workplace Housing Development in San Francisco Opens Its Doors

10/24/22

TL Residences, a new studio apartment community in San Francisco’s vibrant Tenderloin neighborhood, has been completed and will open its doors to residents in November. The mid-rise project, a development of Forge Development Partners and Bridge Investment Group, promises to provide sustainable market-rate housing for the “missing middle,” the essential workers who form the city's backbone but are often priced out of housing near their workplaces.

“TL Residences is a visionary model for integrating pioneering sustainability principles, pioneering technology, and high-quality living environments to create an eco-friendly lifestyle for the middle market,” said Richard Hannum, founder, and CEO of Forge Development Partners (Forge), a San Francisco-based development company focused on providing urban solutions for the nationally underserved area of essential housing. “We believe the ultimate success of this innovative partnership and scaled-unit community will inspire other cities to build similar workforce housing.”

Dozens of community leaders, including San Francisco Mayor London Breed and California State Senator Scott Weiner, project development team members, and neighbors attended a ribbon-cutting ceremony and open house on Oct. 20, 2022, celebrating the completion of TL Residences, a two-building luxury studio apartment community at 361 Turk St, and 145 Leavenworth St.

The project features 240 scaled units in a group occupancy environment, as well as more than 3k sf of street-level commercial space. World-renowned San Francisco-based architecture firm Gensler is the architect of record for the development.

A unique partnership between Forge and Bridge Investment Group (Bridge), a real estate investment manager, brought the pioneering project to life. Bridge’s structured financing, coupled with Forge’s innovative construction and environmental practices, has established San Francisco’s first privately owned and financed buildings that offer means-tested rent controls for workforce housing.

• Thirty-one units will be available at below-market rate to renters with qualifying annual incomes of $32,000, as mandated by the City of San Francisco’s Office of Housing and Inclusionary Housing Ordinance.

• An additional 94 units will be made available to renters with voluntarily imposed qualifying annual incomes ranging from $75,000 to $80,000.

• The remaining units are affordable by design, allowing Forge and Bridge to rent those units at a market rate of $2,467 to $3,791 per month.

Inspired by the global trend of scaled, affordable-by-design residences, Forge created scaled units ranging from 230-280 sf, rich with contemporary features offering multiple uses, such as moveable multi-purpose furniture and walls that allow the same space to transition from living room to bedroom to maximize space. TL Residences boast life-enriching amenities, including a rooftop lounge, community kitchen, yoga studio, and pet zone -- all serving as an extension of residents’ living space, merging community with comfort in a lively atmosphere.

In addition to being affordable by design, TL Residences is driven by cleantech, or technology that is working to reduce negative environmental impacts, making it one of the most technologically advanced and environmentally sustainable buildings in San Francisco, with systems that allow for remote control of energy use, waste-water recycling for reduced consumption, and other environmentally sound practices.

Both buildings include solar thermal water heating systems that reduce overall water boiler gas usage by 30% when compared with traditional systems. Moreover, the buildings incorporate a state-of-the-art HVAC system that provides the highest level of air quality available in multifamily units. The HVAC system uses the most efficient MERV 13 antimicrobial filters on the market to create a pressurized hypoallergenic air supply for each building, filtering out wildfire smoke and industrial pollutants, which is
becoming more important due to climate change, as well as viruses including COVID-19. Forge’s commitment to develop these units as cleantech drives its commitment to sustainability and climate responsibility.





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