The building on the city’s loan record
Balboa Reservoir Building E rises at 11 Frida Kahlo Way, across from the City College of San Francisco Ocean campus. The city’s affordable housing loan committee evaluated the building on 4 April 2025. That record describes a seven-storey building, 100 percent affordable, with 128 family units, a Type III frame over a Type I podium and Nibbi and Pilot as the general contractor.
The committee committed up to $46,574,009 in final gap financing. Total development cost reads $151,638,485, or $1,184,676 a home.
The unit mix and the income bands
The record carries the mix as 56 one-bedroom homes, 39 two-bedroom homes and 32 three-bedroom homes, plus one two-bedroom manager’s unit. Thirty-one units are restricted at 40 percent of area median income, 36 at 65 percent and 60 at 80 percent.
The building holds one bicycle parking space per home and no vehicle parking.
The schedule the sponsor gave the committee
The record sets out the sponsor’s anticipated dates. Construction financing closes by 30 June 2025, vertical construction starts in October 2025, a temporary certificate of occupancy lands in October 2027 and full lease-up finishes in April 2028.
That is a 24-month vertical build with a six-month lease-up tail. The document is an evaluation of an anticipated schedule, so confirm the current dates with the contractor before committing to one.
Two affordable buildings under construction
Block A holds 159 affordable homes and Block E holds 128. Both sit under construction, San Francisco YIMBY reported on 6 September 2026. Phase one adds 288 homes to the city, and first-phase completion is expected as early as 2028.
The half of the master plan that is affordable
The master plan holds approximately 1,100 homes. SF Planning records 50 percent of them as affordable, approximately 550 units including 150 affordable educator units, and a minimum of 40 percent of all units with two bedrooms or more.
The Planning Commission approved the master plan and the development agreement in May 2020, and the Board of Supervisors approved them in August 2020. The legislation enacting the agreement took effect on 28 August 2020. The city selected BRIDGE Housing and AvalonBay Communities as the development team in 2017.
The permits filed for the remaining blocks
Permits filed in September 2026 cover Blocks C, D and G and a site at 170 Meyer Lane, San Francisco YIMBY reported. Blocks C and D were filed together as 243 market-rate units at 198 Wisteria Lane. Block G carries 164 units, with AvalonBay Communities as sponsor and Pyatok as designer, and parking for 206 cars and 118 bicycles. The 170 Meyer Lane filing covers a five-storey mixed-use project with 174 apartments and a podium garage.
Those four filings carry unit counts and parking counts. None carries a construction value or a construction window, and the city record sets no approval date for them.
The infrastructure that gates the next building
Building E holds $20 million in Infill Infrastructure Grant funds for the site’s infrastructure package, with a state disbursement deadline of 30 June 2028. The deadline was originally 30 June 2025.
Building A needs that infrastructure in place before its construction can start, per the city record. Building A also holds $45.7 million in Affordable Housing and Sustainable Communities funds awarded in September 2023.