The Non-Negotiables
In the Fall of 2019 the Freedom West Board of Directors requested a proposal from MacFarlane Partners to present a plan to partner in the revitalization of the four city blocks owned by Freedom West. The proposal needed to achieve the following non-negotiables, which became known as the Guiding Principles:
One
The Freedom West restricted equity cooperative structure must be preserved and must remain 100% owned by Freedom West.
Two
Replace the 382 existing units at Freedom West with 382 new co-op units that include modern amenities and more space at no additional cost to cooperative members, beyond the 3% annual cost of living increase that is currently in place.
Three
Develop a long-term economic sustainable financial plan for the co-op, including new sources of income from additional residential and retail components and profit participation with the developer.
Four
Involve Freedom West Homes’ input in the design of the replacement units, the overall site plan, and community benefits.
MacFarlane Partners delivered by presenting a design concept and long-term economic sustainability plan that was approved unanimously by the Freedom West Board of Directors in May of 2020 and by the entire Freedom West shareholder community in October 2020.
Our Commitment to Keeping the Community Intact
Doing Nothing is Not an Option
In the late 1960s, in a period of civil turmoil, Rev. J Austell Hall had a vision to preserve a portion of the community that was being threatened by the city of San Francisco’s urban renewal of the Fillmore district. From this vision, he created Freedom West with the objective of creating a safe, affordable community, protecting cultural diversity, and providing a source of social and economic empowerment through co-operative ownership that would last for generations.
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We understand that history and want to preserve it. We want to give San Francisco the opportunity to right the wrongs of the past by empowering this existing community with financial security, improved housing, more resources and access to jobs. This project has been driven by Freedom West residents from the very beginning and our team has every intention of following through with the residents’ non-negotiables and our commitments.
Once this project is complete, this community will receive the benefits of a 2.2 billion project that will initiate an influx of $600 million directly into and for Freedom West residents, and the surrounding community, by way of additional housing stock, access to 21stcentury high-paying jobs and a sustainable financial plan. The financial plan would include new sources of income from additional residential and retail components that will naturally provide much-needed services for banking, quality food sources, event space, childcare and others.
The bottom line is that if we truly care about this community and righting the wrongs of the past, doing nothing is not an option. The truth is, if nothing is done, San Francisco is in danger of losing these homes and displacing hundreds of people. Let’s not forget, Freedom West 2.o was created to save Freedom West in the face of a threat of foreclosure. The reason we have been able to get an extension is because the team was able to show evidence that we secured an agreement with MacFarlane Partners to create and fund a plan for redevelopment and long-term sustainability. If the financial institutions foreclose, shareholder transfer values will be decimated, the cooperative will be disbanded and the property will become 100 percent rental units – and likely listed at market value.
Our Commitment to Safety & Security During Transition
During the construction phase, 140 households will have to relocate during that work. MacFarlane Partners has committed that the temporary housing will be high-quality housing in San Francisco and each shareholder will continue to pay the same monthly carrying charges they were paying at Freedom West – MacFarlane Partners will pay the difference. All shareholders are guaranteed to move back to the new Freedom West and the City will require a binding agreement that obligates MacFarlane Partners and Freedom West Homes Corporation to move all shareholders back to the new cooperative homes.