California Construction News staff writer
Islais Place, a new 100% family-oriented affordable housing development, has been completed at 4840 Mission Street in San Francisco’s Excelsior District. This project features 137 apartments designed for households earning between 30% and 103% of the Area Median Income (AMI), with 35 units reserved for HOPE SF residents transitioning from Potrero Terrace and Potrero Annex.
The development is conveniently situated less than a mile from the Balboa Park BART station and just a minute’s walk from a bus stop. The site, previously home to the Valente Marini Perata & Co. Funeral Home, represents one of the first major housing projects in the Excelsior District in nearly 25 years. Islais Place is part of several affordable housing initiatives supported by California Senate Bill 35 (SB 35), which streamlines the approval and construction of multifamily housing with a focus on affordability.
In addition to housing, Islais Place includes over 14,000 square feet of commercial space along Mission Street. This includes an expanded branch of the Mission Neighborhood Health Center (MNHC), which will offer low-cost medical, behavioral health, and dental services to the community. The development also features amenities such as community rooms, bike parking, landscaped courtyards, free high-speed internet through San Francisco’s Fiber to Housing program, and a pedestrian pathway connecting Mission Street and Alemany Boulevard.
Anna Roberts, CEO of MNHC, expressed enthusiasm for the project, noting its importance for the Excelsior District and the upcoming opening of the new clinic in Spring 2025. Developed by BRIDGE Housing Corporation, a non-profit with a history of creating affordable homes, Islais Place was designed by Van Meter Williams Pollack and built by Nibbi Brothers.
The project was funded in part by the 2015 and 2019 Affordable Housing General Obligation Bonds, with additional support from tax credit equity investors and construction lenders. Operating subsidies for the 35 HOPE SF replacement units will be provided through the U.S. Department of Housing and Urban Development’s Project Based Voucher program.
Islais Place reflects a significant collaborative effort to address housing needs and provide a model for creating inclusive and thriving communities.
