In a move addressing San Francisco's housing crunch, Mayor London Breed, city officials, and community leaders broke ground on the affordable housing development at 2550 Irving Street in the Sunset neighborhood. The project, once complete, will offer 90 affordable units geared towards households earning between 25% and 75% of the area median income. Out of these, 22 units are set aside for families transitioning out of homelessness and a further 15 for formerly homeless veterans.
The addition of 2550 Irving signifies a broader push to bolster San Francisco's affordable housing inventory, contributing to nearly 3,000 new units underway this year, surpassing the annual average of under 600 units built between 2015 and 2023. Mayor Breed emphasized the necessity of safe, affordable housing as the foundation for stability and community strength, "Building housing makes our communities stronger, sets our City up to thrive, and helps make San Francisco more affordable for all," in a statement from Mayor's Office.
Located within a commercial stretch, the development is part of Mayor Breed's Housing for All strategy, an action plan aligning with the state-mandated Housing Element. This includes an ambitious target of facilitating 82,000 new homes. District 4, where the Sunset neighborhood falls, has notably felt the pinch of affordable housing deficits, with 2550 Irving being the second venture in the last ten years to offer some relief. The need for housing essential workers such as teachers, police officers, frontline healthcare workers, and local business employees is critical, "San Francisco must retain more families to be a thriving city," remarked Supervisor Joel Engardio for the area, recognizing the project's effort to buoy city demographics.
Real estate non-profit TNDC is steering the $99.4 million development, which touts housing and community spaces, including a ground-floor multipurpose room and office designs for the Sunset Chinese Cultural District, in partnership with Wah Mei School. Katie Lamont, the interim Co-CEO of TNDC, acknowledged the significance of the undertaking, "The community under construction at 2550 Irving Street is a monumental step toward providing essential affordable housing for working families throughout San Francisco," she stated, per the a statement from theMayor's Office.
The funding streams for 2550 Irving include allocations from the city's MOHCD, the California Department of Housing and Community Development, and the Federal Low-Income Housing Tax Credit program. Gustavo Velasquez, HCD Director, emphasized the alignment of 2550 Irving with state goals on neighborhood resourcing and reduced emissions through transit access, "With so many units dedicated to our deserving veterans and to families who had faced homelessness in the Sunset District, this development with its communal outdoor spaces will provide a true sense of home and community for residents," he said, as cited by the Mayor's Office. With Guzman Construction Group on board, the project targets a winter 2025 completion and units ready for lease by the following summer.
