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Leased Of All

The price is cheap when you're paying the rent by paying back to the community.

This story appears in the February 2001 issue of Entrepreneur. Subscribe »

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.

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