Leased Of All
The price is cheap when you're paying the rent by paying back to the community.
San Francisco may be pretty, but it can definitely drain your pocketbook. Still, in a city where apartment rents average over $2,000 per month, some lucky people have found below-market office rates in one of its hottest high-tech districts. A warehouse in the South of Market (SoMa) area will soon become the site of a novel project that may offer businesses lower rents in exchange for job training for its low-income residents. Tenderloin Neighborhood Development Corp. and Citizens Housing Corp. have planned a five-story building that combines 18,000 square feet of commercial space, 4,000 feet of child-care space and 162 affordable housing units.
"We've specifically thought high-tech companies or Internet companies might be ideal candidates because there's such a need for the space from their point of view," explains Chris Mohr, community relations manager at Tenderloin Neighborhood Development.
Continue reading this article -- and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!