The owner of the three-bedroom condo #22A at the Four Seasons Residences in San Francisco purchased the adjoining 836 square foot one-bedroom in October of 2008 and would like to merge the two units to create a 3,743 square foot four-bedroom home.
As the proposed merger will result in the loss of a legal dwelling unit, it needs to be approved by Planning. And in order to be approved without a formal hearing, the least expensive of the units to be merged would need to be deemed “demonstrably unaffordable or financially inaccessible housing.”
While the one-bedroom recently appraised for $1,350,000, believe it or not, that’s no longer considered to be demonstrably unaffordable or financially inaccessible housing in San Francisco. And as such, a formal hearing for the proposed merger will be held this week, a merger that the Planning Department recommends be denied.
Set at 80 percent of the combined land and structure values of single-family homes in San Francisco, the threshold for “demonstrably unaffordable and financially inaccessible housing” in the city is now $1,506,000, up from $1,342,000 nine months ago.