In a continuing effort to provide more affordable housing for students, faculty and staff, SFSU has purchased Stonestown Apartments, a group of rental units located directly adjacent to campus at Buckingham Way and Winston Drive.
The property, newly named University Park North Apartments, consists of 697 one-, two- and three-bedroom apartments. Units will be made available to SFSU students, faculty and staff as current tenants vacate voluntarily.
SFSU's demand for student housing has more than doubled in 10 years, due to a tight rental market in the Bay Area, growth in applications overall, and growth in student applications from beyond the six Bay Area counties closest to the campus.
The $134 million purchase price is being financed by a 30-year California State University systemwide revenue bond issued for the purchase of various properties by CSU campuses. Property fees and rents are expected to repay the bond as well as maintain the property.
With the Stonestown purchase in September and the purchase of 66 apartment units at the Villas Parkmerced last spring, the University's main campus at 19th and Holloway avenues has increased from a little more than 100 acres to more than 141 acres.
1600 Holloway Avenue, San Francisco,
CA 94132 (415) 338-1111