Trinity Plaza plan moves ahead 

The massive 1,900-rental unit development proposed for a Market Street corner lot cleared a key hurdle Monday, as a Board of Supervisors committee sent the project on for a full board vote.

The so-called Trinity Plaza development proposal stalled at the committee level as the project neared the finish line. Members of the Board of Supervisors had put up resistance attempting to fine-tune a negotiated deal between developer Angelo Sangiacomo and Supervisor Chris Daly, whose district includes the proposed development site at Market and Eighth streets.

Under the initial proposal, the existing tenants at Trinity Plaza apartments, mostly of low incomes, were going to be displaced. The deal protected the existing tenants by setting aside 360 of the proposed units for rental by the tenants under city rent control laws at their current rent levels.

Supervisor Jake McGoldrick, who sits on the board’s Land Use and Economic Development Committee, had threatened not to send the project out of committee until it included more below-market-rate units, which initiated further negotiations.

The development returned to the committee last week with new terms, offering 15 percent of 1,540 units at below market rate and further protections on the 360 rent-controlled units to ensure they would remain rental units under city rent control laws for the life of the building.

McGoldrick reiterated last week his long-standing position of wanting 15 percent of the 1,900 units at below-market rate. But he backed off his position during Monday’s Land Use committee meeting and the committee voted to send the project to the Board of Supervisors.

McGoldrick said he abandoned his push for more below-market-rate units because it would not have been supported by the full Board of Supervisors.

"I’d hate for it to set a precedent that we are going to let other developers get a deal that is not as good as I think it could have been. But that’s OK. We’ll live with it," McGoldrick said afterward.

Daly had argued that the deal brought as much public benefit as possible. "I think that I have pushed [it] almost to the brink of project extinction," Daly said.

"We’ve worked hard together to get this thing done. It’s going to be a really beautiful project. I’ve been waiting a long time to get it done," Sangiacomo said.

The full Board of Supervisors will vote on the proposed development on April 10.

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