A 712 square foot Potrero Launch two-bedroom loft with polished concrete floors, stainless steel appliances, barn style bedroom doors and a whole host of building amenities including complimentary Wi-Fi is now available for $1,078 per month. And yes, there’s a catch or two.
As part of San Francisco’s Below Market Rate (BMR) Affordable Housing Program, the income for the tenants of the Dogpatch two-bedroom cannot exceed 50% of the Area Median Income, a maximum household income of $40,500 for two people or $45,550 for three. At the same time, the minimum household income to qualify for apartment E305 is at least $32,340 a year.
Applications for the two-bedroom BMR are due on December 9 with a lottery to follow depending upon the number of applicants. A market-rate two-bedroom of 852 square feet is also available in the building at 2235 Third Street for $3,950 a month, no lottery needed, and a 360 square foot studio for $2,425 which is nine dollars less than average in San Francisco these days.