San Francisco Sun

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, formerly the site of 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 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 Francisco's 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," said Anna Roberts, CEO MNHC. "Islais Place marks a monumental investment in affordable housing in the Excelsior district! We at Mission Neighborhood Health Center are excited to serve the Islais Place community and the Excelsior District at our brand-new clinic location coming in Spring 2025 at 4840 Mission Street."

Islais was developed by BRIDGE Housing Corporation, a non-profit developer that has participated in creating 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 site at below-market price lot in June 2017 with assistance from MOHCD (Mayor’s Office of Housing and Community Development) and 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," said Ken Lombard President & CEO BRIDGE Housing "Islais Place will make a life-changing difference for 137 families."

Islais Place was funded partly by MOHCD through voter-approved Affordable Housing General Obligation Bonds from both 2015 &2019 with additional financing support coming from tax credit equity investors as well as commercial construction lenders Operating subsidies provided via HUD Project Based Voucher program administered SFHA

HOPE SF partnership between MOHCD SFHA SFF nation's first large-scale community development initiative aimed creating inclusive mixed-income thriving communities without mass displacement existing residents As part initiative legacy households living HOPE SF sites have opportunity relocate either on-site neighborhoods or across City including Islais Place

“This project reflects bold innovative collaborative efforts addressing our housing crisis significant milestone supporting thriving communities” said Joaquín Torres Assessor-Recorder President SFHA Commission “These efforts provide inspirational model strengthening inclusive equitable communities benefiting residents families”

“Projects like Islais Place remind us together we create neighborhoods reflecting values San Franciscans equitable inclusive leaving no one behind” said Dr Tonia Lediju CEO SFHA “Providing services amenities allowing individuals families thrive live best lives”