Presidio Plans 196-Unit Apartment Complex Amid Trump Threat

The Presidio Trust is initiating its first major housing development in over 20 years with plans for a 196-unit apartment complex on a 4.6-acre site previously occupied by the Army's Letterman General Hospital. This project aims to address a shortage of smaller apartments in the park, which currently has a housing stock dominated by large family units, and to boost revenue critical for maintaining the park's financial self-sufficiency amid political pressures from President Trump's executive order targeting the Trust. The new complex will include mostly studios, one- and two-bedroom units, adding about 160,000 square feet of residential space and aiming to enhance the park experience while restoring a historic district. This development is unique in San Francisco's market as the Trust can borrow directly from the U.S. Treasury and develop without private partners. Separately, other large residential projects are underway, including an $80 million, 232-unit complex in Manchester, Connecticut, and a 221-unit apartment development in Richmond, Virginia, both marking significant multifamily construction efforts in their regions.