San Francisco's 4200 Geary Project Delivers 98 Affordable Homes for Seniors and Veterans

San Francisco's Richmond District is poised to significantly expand its affordable housing options with the recent topping out of the 4200 Geary Boulevard project. This seven-story development, spearheaded by the Tenderloin Neighborhood Development Corporation (TNDC), will provide 98 new affordable homes for low-income seniors and veterans, addressing a critical housing need in the city.

The project features a mix of 41 studios and 57 one-bedroom units, specifically designed to serve seniors earning between 15-50% of the Area's Median Income. This includes dedicated units for formerly unhoused individuals and veterans, aiming to create a supportive and inclusive living environment. Construction for the 85,551-square-foot building, which replaces a former mortuary, is progressing rapidly, with move-ins anticipated to begin in 2025.

The realization of this vital housing initiative was significantly propelled by key legislative frameworks and substantial state investment. Senator Scott Wiener highlighted these foundational elements, stating in a recent tweet:

The 4200 Geary affordable housing for low income seniors & veterans was “built” using: SB 35, a permit streamlining law I passed that’s resulted in 1000s of new affordable homes in SF State density bonus law that allowed more units & more height $52M in state housing funds.

The overall development carries a total cost of approximately $90.3 million. Funding sources include over $27.7 million in gap financing from the Mayor's Office of Housing and Community Development (MOHCD), $37.7 million in Low-Income Housing Tax Credit (LIHTC) equity, and $20 million from the state's Multifamily Housing Program (MHP). These state-level contributions form a significant portion of the $52 million in state housing funds mentioned by Senator Wiener.

Designed by Y.A. Studio, the building emphasizes health and sustainability. It is seeking a Platinum GreenPoint rating, operates on 100% electric systems, uses no fossil fuels, and will contract for 100% renewable energy. The project also incorporates biophilic design elements, ground-floor retail space, a community room, and an urban agriculture deck, transforming the site into a vibrant community asset and marking a significant step for affordable housing on San Francisco's west side.