Martin Building has scored a $32.4 million HUD insured construction loan to begin rebuilding 178 Townsend into the 94 rental units approved by Planning last year.
And while the developers of the 74-unit 72 Townsend filed for bankruptcy this past December, according to West Bay Builders President Paul Thompson they plan to move forward with the project and “appreciate MacQuarie Bank and their ability to work with us during these times of unprecedented economic challenges.”
∙ Martin nabs $32.4M HUD loan for apartments [San Francisco Business Times]
∙ 178 Townsend Approved To Become Mixed-Use With 94 Rentals [SocketSite]
∙ A Plugged-In Tipster Reports: 72 Townsend Is Now “Coming Soon” [SocketSite]
∙ 72 Townsend: So Close, But Yet So Far For 74 Approved Units [SocketSite]