San Francisco Housing Development Corporation (SFHDC), in partnership with Novin Development, is proud to announce the completion of the 936 Geary project as of November 17, 2023. This remarkable accomplishment marks a significant milestone in our efforts to preserve affordable housing in areas vulnerable to gentrification in San Francisco.
The project, representing the largest undertaking in the history of SFHDC’s participation in the city’s Small Sites Program (SSP), was a $10 million investment in a historic building located in the heart of the city. The development includes 31 residential units and 2 ground-floor retail spaces, revitalizing a key site in the urban landscape.
Throughout 2023, SFHDC and our partners took crucial steps forward: acquiring the building, efficiently organizing in-house tenant relocation, and undertaking comprehensive construction work. These efforts have rejuvenated the building, improving the quality and livability of the residential units.
A key focus of the project has been maintaining affordability for the residents. The 21 occupied units have retained their rental rates, ranging from $600 to $1800, thus ensuring that current tenants can continue to afford their homes. Similarly, the 10 newly refurbished vacant units will be offered at comparable rates, contributing to the area’s affordable housing stock.
Funding for this project was provided by the San Francisco Housing Accelerator Fund (SFHAF), with additional support from the Mayor’s Office of Housing and Community Development (MOHCD). The expert construction work led by Novin Development has been integral to the project’s success, ensuring that the building not only meets modern living standards but also retains its historical significance.
The completion of 936 Geary is a testament to SFHDC and our partners’ commitment to fostering community resilience. By safeguarding affordable housing options, we are helping to stabilize neighborhoods and support the diverse fabric of San Francisco’s communities. This project stands as a beacon of our dedication to preventing displacement and enhancing the vibrancy of urban life in the city.