Wednesday, April 25, 2012

Yep, Twitter's still in a Qualified Census Tract.

HUD's 2013 Qualified Census Tracts for housing tax credits are out today, and, yes, we are once again a winner South of Market. As in several recent past years, developers of subsidized housing who use low-income housing tax credits (LIHTC) are eligible for up to 30% more credits than elsewhere in town.

In their nicely constructed San Francisco QCT map, the HUD folks have now set up the census tract numbers as links to maps and profiles of the respective tracts, including thumbnails of existing LIHTC projects. Try clicking on yet-again Qualified Census Tracts 176.01, 178.01, and 178.02. Those basically make up Western South of Market from the Yerba Buena complex between Third and Fourth, all the way west to Eleventh, and from Market Street southward to Harrison. Twitter is up there between Ninth and Tenth against Market in the northwest corner of Tract 176.01. Also you'll see those purple QCT globs in the Tenderloin and downtown and Chinatown and a bit into North Beach, and then also in the Western Addition.

Back out from the same map a little and you see more of those purple globs run patchily through the central Mission District, then on and off along the nearly-suburban southern city limits.

You'll also notice there are really not a whole lot of LIHTC projects outside of qualified census tracts.

Basically if a tax credit developer wants a dense urban area to work with, that's near good transportation and services, without a lot of local NIMBY attitude, especially if the idea is to rehab an existing rez hotel, then the easiest location is likely to be kind of up around this central downtown area. There are, yes, a bunch of LIHTC projects in the Tenderloin and around Sixth Street and points westward, mostly along Howard Street.

Admit I'd thought more of the projects west of Eighth Street were LIHTC than really are, but as you can see, the map does show a fair number in the general area.

In talking lately about Twitter's neighborhood as a site of interlaced low- and high-income campuses, this LIHTC clumping is part of what I mean.

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