J.K. Dineen April 29, 2020 Updated: April 29, 2020 9:59 a.m.

San Francisco has struck a deal with the developers of the Balboa Reservoir site.

San Francisco has struck a deal with the developers of the Balboa Reservoir site.Photo: Santiago Mejia / The Chronicle 2018

San Francisco Mayor London Breed has finalized an agreement with the developers of the Balboa Reservoir, a key milestone in winning approvals of a controversial plan that would add 1,100 homes to the 17-acre parking lot next to City College.

The development agreement includes a commitment that the developers — Bridge Housing, AvalonBay and Mission Housing — make 550 of the units affordable. It will also include 4 acres of open space, a large child care center, a community center, and $10 million in fees to the city for transit and infrastructure improvements.