3rd and Union?

Yeah, just outside of the angle of this shot are more than likely a significant number of homeless people.

And this is not going to be a homeless shelter, its gonna be extremely expensive apartments, with 10% of units aimed at people earning less than $84k, meaning a rent of about $2.3k for a studio.

What a bargain!!!!

To see how well this works, we need to see how much each 'new' unit would cost to convert. Sometimes the cost per unit is insane ... numbers like $30 million for 100 units mean $300,000 per unit. How long is the payback for $1000 per month? 300 months = 25 years. Before deducting for maintenance and supervision.