Preserving Affordable Housing in San Francisco
09 | 08 | 2008
Case Study
Representing the Asian Law Caucus, Luce Forward secured new commercial office space, and ensured that 21 low-income households received affordable housing in one of the nation’s most expensive housing markets.
The Legal Challenge:
Several years ago, a non-profit organization, whose primary mission is to assist low income household to purchase and occupy affordable housing in San Francisco, acquired a mixed-use building located at 49-55 Columbus Avenue. Luce Forward’s pro bono client, the Asian Law Caucus, was to occupy the commercial portion of the building, while the existing residents were to occupy the residential portions of the building upon the completion of seismic renovation and building upgrades. The challenge was to create the legal structure between the non-profit owner, the existing residents, the Asian Law Caucus and the interested government entities to make this a reality.
The Luce Forward Solution:
Three Luce Forward real estate attorneys worked with multiple parties and prepared a complex development agreement, created a complicated long-term lease agreement, subdivided the property, assisted in the financing of the project and are involved in the on-going efforts to obtain the land use entitlements.
Client Results:
“The work these attorneys have contributed will not only benefit the Asian Law Caucus, but also will preserve affordable housing for 21 low-income households,” said Titi Liu, Executive Director of the Asian Law Caucus. “We are extremely honored to work with such talented, dedicated attorneys and are grateful for their commitment to our cause.”