Another affordable housing development is being proposed for San Francisco’s South of Market (SoMa) neighborhood. Align Real Estate has submitted preliminary permits to build a fully affordable residential building at 1023 Mission Street, according to SF Yimby. The project would deliver over 200 rental units and include ground-floor retail in a key shopping area near the Civic Center BART station.
The proposed 20-story structure would reach 216 feet and cover approximately 221,000 square feet, with the residential component making up 194,000 square feet. Construction costs are estimated at $105 million, not including all related development expenses. The site was last purchased in 2019 for $15.2 million.
Align Real Estate plans to use California’s fast-track approval process and density bonus law to move the project forward. If approved, the building will offer a mix of unit types: 42 studios, 90 one-bedrooms, 86 two-bedrooms, and two three-bedroom apartments. Perry Architects designed the project with glass fiber-reinforced concrete and cement plaster finishes, featuring a four-story podium and floor-to-ceiling windows on each level. A courtyard on the fifth floor overlooking Minna Street will provide turf areas, trees, seating, and dining tables.
San Francisco has seen more than 20,000 apartment units stalled or delayed due to various challenges such as inflation, city fees, material shortages, and tariffs—factors that have slowed new construction across the city (https://www.sfchronicle.com/realestate/article/san-francisco-housing-crisis-18424714.php). In 2023 alone, only 1,453 housing units were completed compared to over 5,000 in 2020.
State requirements mandate that San Francisco plan for an additional 82,069 housing units by the year 2031 as part of its Housing Element obligations.
“— Chris Malone Méndez”
