San Francisco, CA — Today, Mayor London N. Breed joined City officials, community leaders, and housing advocates to celebrate the grand opening of Islais Place, a new 100% family-oriented affordable housing project in District 11. The project includes 137 apartments affordable to households making between 30% and 103% of the Area Median Income (AMI), with 35 units set aside for existing HOPE SF residents voluntarily relocating from Potrero Terrace and Potrero Annex.
Located at 4840 Mission Street, less than a mile away from the Balboa Park BART station and a minute walk from a bus stop, Islais Place is one of the first major developments in San Francisco’s Excelsior District in nearly 25 years. The new development, the former location of the Valente Marini Perata & Co. Funeral Home, is one of numerous affordable housing projects approved and constructed under California Senate Bill 35 (SB 35) – a statute authored by Senator Scott Wiener that addressed some of the hurdles for approving new housing development and streamlined multifamily infill housing with a minimum number of affordable units.
“The creation of affordable housing projects like Islais Place is at the heart of our efforts to ensure families who live and work in San Francisco can afford to stay in the city they call home,” said Mayor London Breed. “A grand opening of this kind of housing is a positive boost for the Excelsior and long overdue. I want to thank BRIDGE Housing, our funding partners, and the Mission Neighborhood Health Center for providing onsite health services for residents and surrounding community.”
In addition to providing much-needed affordable housing, Islais Place features more than 14,000 sq. ft. of ground-floor commercial space along the Mission Street frontage, including an expanded Excelsior branch of the Mission Neighborhood Health Center (MNHC) which offers low-cost medical, behavioral health, and dental services to the neighborhood. Additional amenities include community rooms, bike parking, landscaped central courtyards, free high-speed internet through San Franciscos’ Fiber to Housing program, and a mid-block pedestrian pathway connecting Mission Street and Alemany Boulevard.
“After almost 10 years of diligent advocacy by the members of Communities United for Health and Justice, Islais Place marks a monumental investment in affordable housing in the Excelsior district!” said Anna Roberts, CEO, MNHC. “We at Mission Neighborhood Health Center are excited to serve the Islais Place community and the Excelsior District at our brand-new clinic location, 4840 Excelsior Mission, coming in Spring 2025 at 4840 Mission Street."
Islais was developed by BRDIGE Housing Corporation, a non-profit developer that has participated in the creation of more than 21,000 affordable homes in California, Oregon, and Washington. The five-story building was designed by Van Meter Williams Pollack and constructed by local general contractor Nibbi Brothers. BRIDGE purchased the 4840 Mission Street site at a below-market price lot in June 2017 with assistance from the Mayor’s Office of Housing and Community Development (MOHCD) and the San Francisco Housing Accelerator Fund.
“BRIDGE Housing is thrilled to be opening one of the first new affordable housing developments to serve the Excelsior district in 25 years. Islais Place will make a life-changing difference for 137 families, and many more to be served by the new Mission Neighborhood Health Center,” said BRIDGE Housing President and CEO Ken Lombard. “Complex projects like this require teamwork, and we’re grateful to the City of San Francisco and our other partners for their steadfast commitment to addressing this community’s urgent housing needs.”
Islais Place was funded in part by the Mayor’s Office of Housing and Community Development (MOHCD) through the voter-approved 2015 Affordable Housing General Obligation Bond and 2019 Affordable Housing General Obligation Bond, with additional financing support coming from tax credit equity investors and commercial construction and permanent lenders. Operating subsidies for the 35 HOPE SF replacement units will be delivered through the U.S. Department of Housing and Urban Development’s Project Based Voucher program administered by the San Francisco Housing Authority.
HOPE SF, a partnership between MOHCD, the San Francisco Housing Authority, and the San Francisco Foundation is the nation’s first large-scale community development initiative aimed at creating inclusive, mixed-income, and thriving communities without the mass displacement of existing residents. As part of this initiative, legacy households living at HOPE SF sites have the opportunity to relocate to new affordable housing either on-site in their neighborhoods, or in affordable housing developments across the City, including Islais Place.
“This project reflects the bold, innovative, and collaborative efforts in San Francisco to address our housing crisis. It's a significant milestone to support a thriving community for families who already live and work here,” said Joaquín Torres, San Francisco Assessor-Recorder and President of the San Francisco Housing Authority Commission. “These efforts continue to provide an inspirational model for others to strengthen inclusive and equitable communities that benefit our residents and their families.”
“Projects like Islais Place reminds us that together we can create neighborhoods that reflect the values of San Franciscans which are equitable and inclusive communities leaving no one behind,” said Dr. Tonia Lediju, CEO of the San Francisco Housing Authority. “At the same time, providing services and amenities that allows individuals and families to thrive and live their best lives.”
###