TODCO Files Plans to Swap SoMa’s Alice Street Community Gardens for 105 Affordable Senior Apartments
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- Disclosed multifamily deal value tracked in October 2026: $7.6B across 84 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Tenants and Owners Development Corporation has filed preliminary plans to build an 80-foot, 105-unit affordable senior rental building on the South of Market land that has housed the Alice Street Community Gardens sin…
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