The 1850 Bryant Street Project will expand the real estate ecosystem to ensure nonprofit social service stabilization.
1850 Bryant is a 172,000 sqft. new construction commercial condominium building in San Francisco’s Mission District specially constructed with a turnkey development approach to house nonprofits. Common Ground Urban Development has incorporated the best practices in nonprofit facility development: early site control, equitable financing structure, social impact capital, and shared management to help protect social service organizations from San Francisco’s volatile commercial real estate rental market.
Most modern office buildings were not designed for and are incompatible with providing direct social services. As a result, many San Francisco nonprofits providing direct social services in traditional offices found their leases not being renewed even if they could afford market rate rent. As a result, many nonprofits began moving to spaces that were temporary in nature. These buildings usually lacked the robust services needed for direct social service providers as well.
An equitable financing structure, envisioned by the developers of 1850 Bryant, will allow nonprofits to participate in the equity by creating commercial condos for purchase. As owners of commercial condos, nonprofits will be able to manage the long-term maintenance of their facility and stabilize their ongoing operating budgets.
The building will provide a robust concierge service with front desk personnel properly trained to serve the needs of the owners and the visitors of the building. The elevator system will have the same controls as a downtown office building, ensuring that staff and visitors can efficiently and safely go to their space in the building. 1850 Bryant will also feature shared common areas thereby reducing overhead costs.The facility will be professionally managed so that the organizations in the building can focus on their mission.
full service expertise
Our team is taking a direct development and construction role by securing the site, managing the entitlement process, sourcing the financing and the key partner Doug Ross will provide cost controls by serving as the general contractor.
Common Ground will provide the nonprofits with the support they need to complete the transaction, including NMTCs which may write down the total development costs by 18% to 20%.
We will also ensure that the operating costs of the building is reduced by
- building a LEED Certified project which will, among many things, control energy expenses
- designing a shared space program
- managing the asset with a third party professional property management firm
The 1850 Bryant team of Chris Foley, Doug Ross, Leiasa Beckham, Thor Kaslofsky and Mindy Bacharach have collectively worked to solve real estate issues for over 60 years. Individual backgrounds can be found in our About page.