The 1830 Alemany Affordable Housing Project

The project was initiated in 2016 by Siavash Tahbazof, whose roots in San Francisco’s construction and engineering sector began over four decades ago after immigrating from Iran. The stated motivation for 1830 Alemany was to contribute positively to the community that afforded his family both roots and opportunity.  The focus was on creating housing accessible to a diverse range of San Francisco residents.

Project Execution

• Timeline: The project required six years to complete, from initial planning to final delivery.
• Financing: The development was funded by the Tahbazof family, with First Republic Bank refinancing the project on complete. This approach is notable for its independence from public subsidies, grants, or tax credits typically associated with affordable housing construction.
• Development: Yosef Tahbazof and Atlas Property Group led the development, steering through a complex construction and regulatory process that demanded coordination with dozens of city agencies and the collaboration of an outstanding team of consultants, contractors, and suppliers.

The 1830 Alemany project delivered a broad range of community benefits with tangible outcomes:

Local Employment: The great majority of the consultants and contractors – including electricians, carpenters, plumbers, engineers, and architects – were city residents. At the height of pandemic-related unemployment, the project provided jobs for hundreds of San Franciscans, reaffirming a commitment to investing in local talent and resources.

Site Transformation:  The site previously contained a modest, obsolete, and dilapidated commercial warehouse situated on a large parcel. In keeping with the Tahbazof Family’s track record, its removal and redevelopment required no residential displacement and transformed the property from an eyesore into a value addition to the neighborhood.  This transformation also provided a lasting fiscal benefit to the City, increasing annual property tax revenue from $24,000 to more than $400,000 in perpetuity, along with approximately $1,000,000 in city fees.

Creation of Affordable Housing: The project voluntarily designated 50% of its units as affordable, resulting in 58 Below Market Rate (BMR) apartments. This provides critical housing opportunities for individuals and families who may otherwise be priced out of the city.

Focus on Workforce Housing: The market-rate units were priced with the goal of being accessible to working families and essential community members, such as teachers, firefighters, and healthcare workers. The first market-rate resident to occupy a unit was a teacher working in the Excelsior district, confirming the project’s alignment with its workforce housing goals.

Support for Former Foster Youth: The project established a partnership with First Place for Youth, an organization dedicated to supporting transitional-age foster youth. Through this collaboration, five market rate units at 1830 Alemany are specifically reserved for young adults exiting the foster care system, providing them with stable housing and access to supportive services.