Construction has topped out for 99 Ocean Avenue, a six-story residential infill in Balboa Park, San Francisco. The project, dubbed Ventana Residences, will soon open with 193 new homes as the largest project built using the HOME-SF affordable housing development program. Presidio Bay Ventures is the project developer.
The 65-foot structure contains 190,400 square feet, of which 153,800 square feet will be for residential use. 5,970 square feet will be made for a Wu Yee Children’s Services space, and 26,000 square feet for 75 parking spaces. Unit sizes will vary, with 47 studios, 67 one-bedrooms, 57 two-bedrooms, and 22 three-bedrooms. Ventana will include 48 units of below-market-rate housing, roughly a quarter of all the housing.
Writing to YIMBY, CFO of Wu Yee Children’s Services Mark Tao shared the following statement about their involvement with the project, writing, “we are a highly reputable local nonprofit child care organization with the largest Head Start program in San Francisco. We offer a comprehensive range of early learning, family, and family child care educator services. We believe that nothing is more essential than excellent child care, right from the start. Needless to say, we are so excited about partnering with Presidio Bay Ventures on this excellent project.”
San Francisco-based RG Architecture is responsible for the design. Facade installation has not yet started. Materials will include fiber cement board lap siding, rain screens, solid phenolic panels, perforated metal, and board-formed concrete at street level.
Residents will be offered a host of amenities including a fitness center, co-working lounge, and a two-level roof deck. Along with the childcare facility, there will be a large public-facing art program.
The building will cover 0.92 acres on an irregularly shaped lot, with facades overlooking Ocean Avenue, Alemany Boulevard, and Cayuga Avenue. While it is the largest project in the city to use HOME-SF, it is also the only project to do so within District 11.
City records show that the property was last sold in October of 2020 for $13.75 million. Presidio Bay Ventures and ARA hired 100% union labor for construction as part of the financing package. The crew broke ground in January of 2021 after Presidio landed $120 million in financing from TDA Investment Group and ALF-CIO Housing Investment Trust.
Align Residential will be the property manager once the building is complete. Presidio Bay Ventures tells YIMBY that the project is expected to open in the second quarter of 2023.
CORRECTION: When published, the article reported that Crayon Box school would operate the child services center within 99 Ocean Avenue. In fact, the space will be operated by Wu Yee Children’s Services. This error has since been amended