Developers will transform four acres of parking lots and vacant buildings at 5th and Mission streets with two new towers, a 200-foot apartment building, two parks and renovated historic buildings. The project includes 702 residential units on site and helps fund another 154 affordable units nearby.

5M will generate more than $76 million in public benefits, including funding for affordable housing, transit improvements, the arts and community groups. Those contributions enabled the controversial project to win city approval in 2015.