SAN FRANCISCO—On Wednesday, June 26, the Mayor’s Office of San Francisco indicated the celebration for the groundbreaking of 2550 Irving Street, a new 100 percent affordable housing development in San Francisco’s Sunset neighborhood.
The development is located along the Irving Street commercial corridor, where 2550 Irving will provide 90 new permanently affordable rental units serving households earning between 25 percent to 75 percent of the area median income (AMI), with 22 subsidized units designated for families exiting homelessness and 15 subsidized units designated for formerly homeless veterans.
With 2550 Irving, the city of San Francisco has close to 3,000 new units under construction or breaking ground in 2024 as part of 100 percent affordable projects. On average, San Francisco built under 600 units per year from 2015 to 2023.
According to a press release from the Mayor’s Office, 2550 Irving builds on efforts to increase housing across the city as part of the Mayor’s Housing for All strategy that changes how the city approves and builds housing. The goal is to allow for 82,000 new homes to be built as part of the State-mandated Housing Element.
According to the April 2023 San Francisco Housing Balance Report, District 4 has experienced the greatest impact of affordable housing loss of all the City’s supervisorial districts. 2550 Irving is the second affordable housing project to break ground in District 4 in the last decade and will provide urgently needed housing for essential workers and their families including teachers, police officers, frontline healthcare workers, and employees of neighborhood shops and restaurants.
“The Sunset is known for being a place for families, but many can no longer afford to live here. San Francisco must retain more families to be a thriving city,” said Supervisor Joel Engardio, who represents the Sunset neighborhoods. “It’s vital we commit to building new housing for all income levels. This fully affordable housing on Irving Street is long overdue. The Sunset welcomes all the families this project will keep in San Francisco.”
Tenderloin Neighborhood Development Corporation (TNDC), a San Francisco-based non-profit organization with more than 40 years of experience in both the development and management of affordable housing in San Francisco, is leading the project’s development. In addition to community spaces for residents, 2550 Irving will feature a ground-floor a multipurpose room and office spaces for exclusive use by the Sunset Chinese Cultural District (SCCD), in partnership with the Wah Mei School and TNDC.
“The community under construction at 2550 Irving Street is a monumental step toward providing essential affordable housing for working families throughout San Francisco. Located near Golden Gate Park, excellent schools, and the vibrant hum of Irving Street, these apartment homes will offer an ideal environment for families to thrive,” said Katie Lamont, Chief Operating Officer and Interim Co-Chief Executive Officer at TNDC. “We are grateful to our partners and the community for making this vision a reality. Together, we are building a brighter, more equitable future for San Francisco.”
The $99.4 million project was financed by the Mayor’s Office of Housing and Community Development (MOHCD) and the California Department of Housing and Community Development (HCD). The project received a Multi-Family Housing Program (MHP) award and additional funds from the Infill Infrastructure Grant (IIG) program. Additional financing was provided by the Federal Low-Income Housing Tax Credit (LIHTC) program.
The construction of 2550 Irving will be supervised by Guzman Construction Group, a certified San Francsico-based minority-owned contractor. Additional local development and legal partners include PYATOK Architects, Miller Company Landscape Architects, Waypoint Consulting, California Housing Partnership Corporation, Gubb & Barshay, and Farella Bruan + Martel. Construction is expected to be completed in winter 2025 with lease-up starting in summer 2025.
