Presidio Bay Launches 193-Unit Affordable Housing Project in San Francisco

Presidio Bay Ventures, Bay Area, San Francisco, HOME SF, Outer Mission, Balboa Park, Ventana Residences,
Courtesy of Presidio Bay Ventures

Informational Sessions Now Available for Prospect Tenants to Apply for Ventana’s 48 Affordable Units through the City’s DAHLIA program.

San Francisco, California – Presidio Bay Ventures (“Presidio Bay”), a leading Bay Area-based commercial real estate development and investment firm, announces the launch of Ventana Residences (99 Ocean), the company’s largest multifamily, ground-up development to date. Ventana is also the first and largest project built using San Francisco’s innovative HOME-SF affordable housing initiative. Of Ventana’s 193 residences, 48 will be dedicated as affordable. Prospective residents can apply via the San Francisco Mayor’s Office of Housing and Community Development’s DAHLIA website from November 10, 2022, through December 1, 2022.

“We are proud to develop a project of this scale that is also addressing the city’s housing shortage. Thanks to the City’s HOME-SF program, we were able to triple the number of new affordable units created in District 11 since 2009,” said K. Cyrus Sanandaji, Founder and Managing Principal, Presidio Bay Ventures. “At Presidio Bay, placemaking and wellness are at the forefront of our decision making. We have worked to ensure that Ventana Residences will provide the community with a high-quality, socially activated and family-oriented offering that will inspire interaction between residents and the neighborhood for generations to come.”

In addition to considerations taken within the property, Presidio Bay has put great care into ensuring that the project supports District 11 and the surrounding communities with useful and desirable benefits. Having preference for applicants who already live in the neighborhood, Ventana’s affordable units are additionally designated for households earning 55 to 110 percent of the area median income. Prospective residents can learn more about how to apply by attending Presidio Bay’s multilingual workshop series which will be held virtually and in-person this fall in partnership with Meda SF, a local non-profit and housing advocacy group. The project created more than 500 jobs during construction and will additionally create up to 30 permanent full-time jobs upon completion. Partnering with another local non-profit, Mission Hiring Hall, Presidio Bay continues to support District 11 by employing a local workforce throughout the construction process and is utilizing 100 percent union labor. Finally, in coordination with Youth Art Exchange (YAX), a non-profit who pairs professional artists with high school students to promote leadership, local high school-aged artists will design and create select furniture pieces and art installations to be showcased throughout the property. This collaboration will allow for the community’s youth to contribute to their surrounding area in a lasting way, and also aligns with Presidio Bay’s strong commitment to art in architecture.

Another significant contribution to the neighborhood will be the 9,000-square-foot indoor and outdoor childcare space which will be located on the ground-floor of the building facing Alemany. It will be operated by local non-profit, Wu Yee Children’s Services, San Francisco’s largest head start, and early head start provider who believes that every child should have access to the best education and works tirelessly to provide this to San Francisco’s diverse neighborhoods. Presidio Bay invested more than $2.5 million towards the childcare space, knowing that District 11 community has the highest citywide percentage of households with children.

Ventana Residences will offer studio-, one-, two-, and three-bedroom apartments, complemented by a list of inspiring amenities that stimulate emotional connections and will be a place for residents to thrive and grow. Onsite, residents will find a mix of spaces designed for quiet time or social interaction, both indoors and outdoors, including a community flower garden with a butterfly sanctuary, an indoor co-work space with adjoining conference rooms, call rooms and lounge seating, and an athlete-designed fitness center with connected outdoor yoga deck and meditation room. Additional standout amenities include The Parlor, a music room equipped with a piano, guitar and record player, outdoor hammocks for relaxing, fire pits, and The Solarium, an indoor greenhouse space. Two rooftop terraces provide unique outdoor experiences for families and friends. The Park is tailored for families with a gourmet kitchen for outdoor gatherings, a playground and kids play area, games to explore and interact, and a dog run and Pet Spa. The Terrace, a separate rooftop located on the 5th floor is designed for friends to gather for al fresco dinner parties and BBQ’s. It includes a full outdoor kitchen, audio system and heaters for maximum comfort, and is complemented by fantastic city views. Ventana is also fueled by technology wherever possible, including a video intercom system by ButterflyMX, building-provided Wi-Fi in all residences and all amenity spaces, plus keyless access controls throughout.

Located in the heart of the Outer Mission, Ventana residents will reside in a charming, walkable, character-filled neighborhood. The area is known as a culinary hotspot with over 100 restaurants and cafes across a diversity of cultures and cuisines, and an incredible retail scene with everything from local boutiques, indie shops and convenient destinations including Whole Foods, Alemany Farmers Market and more. Ventana is also conveniently located near several methods of public transportation, and local attractions including some of the city’s most storied venues and parks, such as Balboa Park.

Ventana will begin pre-leasing in early 2023 and looks to welcome residents in the spring. The BMR lottery will open on November 10, 2022, and end on December 1, 2022.

About Presidio Bay Ventures
Presidio Bay Ventures is a commercial real estate investment and development firm focused on the design, construction, and long-term operation of a diverse set of product types for private and public sector tenants across the United States. Headquartered in San Francisco, the firm is committed to holistic innovation that fosters occupiers’ environmental, social and governance (ESG) goals. Presidio Bay’s primary expertise is in new construction and major renovation of complex, mid to large-scale office buildings, mixed-use urban infill multifamily communities, industrial distribution centers, and other special-use facilities. Presidio Bay has developed projects totaling 3,900,000 square feet of new construction and adaptive reuse valued at nearly $3.3 billion across the United States and its outlying territories.

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