San Francisco's Excelsior District witnessed a significant development as Mayor London N. Breed and city representatives inaugurated Islais Place, a new housing project aimed exclusively at low to moderate-income families. Anticipated to address the area's affordable housing shortage, this project provides 137 apartments tailored for households earning between 30% and 103% of the Area Median Income, as detailed by the City and County of San Francisco. An added detail highlights 35 units reserved for residents opting to relocate from Potrero Terrace and Potrero Annex. Islais Place capitalizes on its proximity to public transit and introduces over 14,000 sq. ft. of commercial space and health services via an expanded Mission Neighborhood Health Center branch.
The significance of Islais Place extends beyond the housing it provides. According to Mayor London Breed, per the City and County of San Francisco, "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". This sentiment resonates with the long-overdue necessity for such developments in the area. Similarly, BRIDGE Housing, the non-profit developer behind Islais Place, purchased the property in June 2017, aided by the Mayor’s Office of Housing and Community Development and other partners. BRIDGE Housing President and CEO Ken Lombard conveyed that the development stands as a symbol of teamwork and dedication to San Francisco's housing needs.
Funding for the project was sourced from multiple channels, including the Mayor’s Office of Housing and Community Development through bonds approved by voters and contributions from tax credit equity investors and lenders. Moreover, the U.S. Department of Housing and Urban Development's Project-Based Voucher program is set to provide operating subsidies for the 35 HOPE SF replacement units. HOPE SF's initiative, aiming for inclusive and mixed-income communities, is positioned as a non-dislocatory approach to community betterment.
Islais Place isn't just bricks and mortar; it embodies a collaborative spirit towards tackling the city's housing crisis. Joaquín Torres, San Francisco Assessor-Recorder and President of the San Francisco Housing Authority Commission expressed, as per the City and County of San Francisco, “This project reflects the bold, innovative, and collaborative efforts in San Francisco to address our housing crisis." It aims to support hearty communities for families ingrained in the city's fabric. Furthermore, on-site amenities such as bike parking, courtyards, high-speed internet, and a pedestrian pathway enhance resident livability, making it a comprehensive solution to more than just housing. Dr. Tonia Lediju, CEO of the San Francisco Housing Authority, underlined this holistic approach in a statement from the SF Government news release, emphasizing the project's role in crafting a neighborhood that upholds San Francisco’s values of equity and inclusion.
