Over a century ago, the Tubbs Cordage Company wove abaca fiber into ropes later used to build the Golden Gate Bridge. Abaca is also known as Manila hemp, growing up to 22 feet high and perfect for making twine and rope. Just the kind of business that lined Dogpatch’s waterfront way back when.
On that site today, at 2660 Third Street in San Francisco, now stands a modern building named Abaca as a tribute to the past. With 34 below-market-rate (BMR) apartment rentals starting at $991/studio, $1,133/one-bedroom unit, $1,264/two-bedroom unit and $1,391/three-bedroom unit, Abaca offers affordable housing in a trendy neighborhood close to transportation and all that makes urban living so desirable.
Add to that some major amenities, such as a rooftop deck with views of San Francisco Bay, a fitness center and a parking garage. The units are highlighted by dual-tone kitchen cabinets and stainless steel appliances.
MEDA works to get clients rental ready. That means a 650+ credit score, debt lower than $500 and meeting income requirements, the latter varying by property.
“I know that housing is for all in San Francisco. We can work with anyone in the community. There are many BMR units in the pipeline, so now is the time to get ready,” explains Housing Opportunities Program Manager Juan Diego Castro.
If you are already rental ready (see if you meet income requirements here), you can come to MEDA’s Plaza Adelante on Wednesday, Feb. 22, at 5 p.m. for help filling out your application for Abaca. The bilingual team and some volunteers will be on hand for help filling out the paper application (there are no online applications for this development.) Please bring proof that you live or work in San Francisco; examples of proof include a pay stub or a PG&E bill.
Application deadline is March 9. Lottery will be held March 31 at 1 p.m. in the Koret Auditorium of the San Francisco Public Library.
Do you need to get rental ready? Call MEDA at (415) 282-3334 ext. 101.