The Agency entered an Owner Participation Agreement with Reza Assemi to redevelop a commercial property at 1625 Broadway, at the northwest corner of Broadway and Calaveras, into 22 loft-style residential units in an adaptive reuse. Five of the units will be reserved for moderate-income households.
On February 27, 2007, the Agency approved a Disposition and Development Agreement for the Fulton Plaza Apartments — now the Iron Bird Lofts — which included 80 housing units, with 16 units designated for low- and moderate-income families, and an estimated 16,000 square-feet of commercial retail space. The units were completed in December 2009 and are being leased.
On December 16, 2008 the Agency approved an Owner Participation Agreement with FFDA Properties LLC, to facilitate the development of a mixed-use residential development at the southwest corner of Fulton and Amador. The developer has commenced grading of the one-acre site, which will feature 60 new units, of which 13 would be reserved for low- and moderate income families, and approximately 3,100 square feet of retail space.
On August 20, 2009 the Agency approved an Owner Participation Agreement with Mayflower Lofts, LLC for the development of fifteen mixed-income housing units at 1417 Broadway, at the northwest corner of Broadway and Tuolumne. The Mayflower Building is a three story brick structure that is currently vacant and was a former residential hotel..