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Community & Connection in Manufacturing

150 Hooper Street: Pioneering Affordable Manufacturing Space in San Francisco

150 Hooper Street holds the honor of being the first affordable space for manufacturers in San Francisco. It is also the city’s first new manufacturing development in decades.

A $25-million project, 150 Hooper Street has four floors and 56,000 square feet. It currently has 12 tenants. At least 60 percent of the tenants’ employees are from low income backgrounds—a requirement put in place via 150 Hooper Street’s use of New Markets Tax Credits.

PlaceMade, a subsidiary of SFMade and the local non-profit overseeing 150 Hooper Street, received major assistance to bring the building to life. Kilroy Properties, a real estate developer, purchased the property where 150 Hooper stands in 2015. They donated the land that corresponds to 150 Hooper Street to PlaceMade as part of a development requirement.

The City of San Francisco also helped PlaceMade apply for New Markets Tax Credits. Capital One and the San Francisco Community Investment Fund came through as the New Markets Tax Credits investors, providing a total New Markets Tax Credits allocation of $24.4 million and $8.3 million in New Markets Tax Credits equity.

Community Vision (formerly the Northern California Community Loan Fund) and Amalgamated Bank rounded out support with $8.7 million in hard loans. The development also received $10 million in philanthropic support.

Humanmade will be one of the building’s first major tenants. The community-focused makerspace takes up the entire 14,000 square feet of the building’s fourth floor.

Humanmade offers a four- to eight-week job training program, training support to manufacturers, industry advisors focused on building skills and knowledge for entry-level jobs—all part of what they call “life-changing Workforce Development Certification programs”.

Other confirmed tenants include an apparel patternmaker, medical device maker, machine shop, and an exoskeleton fabricator.

Q&A

Why does manufacturing matter to PlaceMade?

Because of the quality of jobs manufacturers provide, plus its contribution to innovation and industry broadly in the Bay Area.

Does PlaceMade have a history of manufacturing development?

This is PlaceMade’s first development, but the nonprofit real estate developer has vast knowledge of industrial space due to their work with SFMade’s over 600 local manufacturers.

How did PlaceMade develop capacity for a manufacturing real estate project?

SFMade’s extensive expertise of industrial buildings and infrastructure needs provided the basis of knowledge for the development.

How important is it to maintain fabrication activity in 150 Hooper Street?

The building is being managed by SFMade whose mission is to help manufacturers start, stay, and grow in San Francisco.

Any focus on inclusion and equity when selecting tenants?

At least 60 percent of the tenants’ employees must be from a low-income background.

Is PlaceMade involved in workforce or other initiatives outside of property management?

SFMade and its attending organizations like the Bay Area Urban Manufacturing initiative and Manufacture: San Jose help connect manufacturers with employees in the Bay Area. They work directly with workforce partners and youth programs throughout the Bay Area to ensure these jobs are made available to local residents.

What type of entity is the developer?

PlaceMade is a non-profit real estate developer.

Did PlaceMade receive assistance from local government?

Yes—the City of San Francisco assisted PlaceMade with securing federal tax credits.

How many tenants are in 150 Hooper Street?

Twelve.

What types of tenants are present?

SFMade and its attending Makers and manufacturers, like an apparel patternmaker, soft goods sewing factory, machine shop, beverage bottler and distributor, and a medical device manufacturer. Humanmade is 150 Hooper Street’s largest tenant.

How many are production businesses?

Eleven.

Were CDFIs involved in this project?

San Francisco Community Investment Fund and Community Vision are both CDFIs.

What was the size of the real estate deal?

$25 million.

What square footage options do tenants have?

Options range between 1,100 sq. ft. and 13,000 sq. ft.

What is the rent per square foot?

Production, distribution, and repair spaces are mostly being leased at $24 per sq. ft.—nearly 30 percent lower than market rates.

How does PlaceMade approach subdividing large spaces for multiple tenants?

The building was devised with different-sized units in mind to attract a diverse set of manufacturers. The units were delivered as a “warm shell” with finished walls, electricity, sinks, water, and lighting.

Total square feet?

56,000 sq. ft.

This case study was originally published by Urban Manufacturing Alliance in 2019 as part of “All About the Jobs: Eight Mission-driven Industrial Developers on How Their Spaces Anchor Manufacturers and Support Local Economies,” a project developed in partnership with Local Initiatives Support Corporation (LISC) and students at the Albany Law School Community Development Clinic.

150 Hooper Street holds the honor of being the first affordable space for manufacturers in San Francisco. It is also the city’s first new manufacturing development in decades.

A $25-million project, 150 Hooper Street has four floors and 56,000 square feet. It currently has 12 tenants. At least 60 percent of the tenants’ employees are from low income backgrounds—a requirement put in place via 150 Hooper Street’s use of New Markets Tax Credits.

PlaceMade, a subsidiary of SFMade and the local non-profit overseeing 150 Hooper Street, received major assistance to bring the building to life. Kilroy Properties, a real estate developer, purchased the property where 150 Hooper stands in 2015. They donated the land that corresponds to 150 Hooper Street to PlaceMade as part of a development requirement.

The City of San Francisco also helped PlaceMade apply for New Markets Tax Credits. Capital One and the San Francisco Community Investment Fund came through as the New Markets Tax Credits investors, providing a total New Markets Tax Credits allocation of $24.4 million and $8.3 million in New Markets Tax Credits equity.

Community Vision (formerly the Northern California Community Loan Fund) and Amalgamated Bank rounded out support with $8.7 million in hard loans. The development also received $10 million in philanthropic support.

Humanmade will be one of the building’s first major tenants. The community-focused makerspace takes up the entire 14,000 square feet of the building’s fourth floor.

Humanmade offers a four- to eight-week job training program, training support to manufacturers, industry advisors focused on building skills and knowledge for entry-level jobs—all part of what they call “life-changing Workforce Development Certification programs”.

Other confirmed tenants include an apparel patternmaker, medical device maker, machine shop, and an exoskeleton fabricator.

Q&A

Why does manufacturing matter to PlaceMade?

Because of the quality of jobs manufacturers provide, plus its contribution to innovation and industry broadly in the Bay Area.

Does PlaceMade have a history of manufacturing development?

This is PlaceMade’s first development, but the nonprofit real estate developer has vast knowledge of industrial space due to their work with SFMade’s over 600 local manufacturers.

How did PlaceMade develop capacity for a manufacturing real estate project?

SFMade’s extensive expertise of industrial buildings and infrastructure needs provided the basis of knowledge for the development.

How important is it to maintain fabrication activity in 150 Hooper Street?

The building is being managed by SFMade whose mission is to help manufacturers start, stay, and grow in San Francisco.

Any focus on inclusion and equity when selecting tenants?

At least 60 percent of the tenants’ employees must be from a low-income background.

Is PlaceMade involved in workforce or other initiatives outside of property management?

SFMade and its attending organizations like the Bay Area Urban Manufacturing initiative and Manufacture: San Jose help connect manufacturers with employees in the Bay Area. They work directly with workforce partners and youth programs throughout the Bay Area to ensure these jobs are made available to local residents.

What type of entity is the developer?

PlaceMade is a non-profit real estate developer.

Did PlaceMade receive assistance from local government?

Yes—the City of San Francisco assisted PlaceMade with securing federal tax credits.

How many tenants are in 150 Hooper Street?

Twelve.

What types of tenants are present?

SFMade and its attending Makers and manufacturers, like an apparel patternmaker, soft goods sewing factory, machine shop, beverage bottler and distributor, and a medical device manufacturer. Humanmade is 150 Hooper Street’s largest tenant.

How many are production businesses?

Eleven.

Were CDFIs involved in this project?

San Francisco Community Investment Fund and Community Vision are both CDFIs.

What was the size of the real estate deal?

$25 million.

What square footage options do tenants have?

Options range between 1,100 sq. ft. and 13,000 sq. ft.

What is the rent per square foot?

Production, distribution, and repair spaces are mostly being leased at $24 per sq. ft.—nearly 30 percent lower than market rates.

How does PlaceMade approach subdividing large spaces for multiple tenants?

The building was devised with different-sized units in mind to attract a diverse set of manufacturers. The units were delivered as a “warm shell” with finished walls, electricity, sinks, water, and lighting.

Total square feet?

56,000 sq. ft.

This case study was originally published by Urban Manufacturing Alliance in 2019 as part of “All About the Jobs: Eight Mission-driven Industrial Developers on How Their Spaces Anchor Manufacturers and Support Local Economies,” a project developed in partnership with Local Initiatives Support Corporation (LISC) and students at the Albany Law School Community Development Clinic.