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If passed, this ordinance would approve the creation of a large mixed-use development project at Fifth and Mission.

The development, known as the 5M Project, would consist of four developments laid out over a 4-acre lot: a 470-foot condo building, a 200-foot apartment building, and a 395-foot office complex--containing 690 market-rate homes, as well as offices and retail space.

Per an agreement with the Board of Supervisors, the project will offer 40 percent of its housing units at below-market rate. Of the below-market rate units, 71 will be available at 50 percent of the area median income (AMI). Another 87 units will be offered between 100 and 150 percent of the AMI, and 83 units will be set aside for senior housing. The developers will pay the city roughly $8.8 million for transit improvements that will accompany the project.

If approved, the project will likely take more than a decade to complete. The project is being developed by Forest City, and the property is owned by the Hearst Corporation.

The project has faced significant opposition from community organizers in the South of Market area. An appeal issued by activists in September argued that the project will displace many of the neighborhood’s long-term residents, including members of its large Filipino population.

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Should San Francisco Approve the Fifth and Mission Development Project?