Eight Stories on a Vacant Lot
The corner of Divisadero and Oak streets holds a vacant lot where a car wash operated until 2019. San Francisco Public Works has issued street and sidewalk closure permits for the site with a 19 October 2026 start date, according to the Hoodline report that carries the record. Before the permits the project published no start date.
The plan calls for full demolition of the existing structure and an eight-story building of 85 feet by BDE Architecture. It yields about 194,280 square feet: 109,800 square feet of housing, 1,850 square feet of retail and 8,480 square feet for a garage of 24 cars.
The closure permits cover the street and the sidewalk at the site. Hoodline reads them as a signal that ground-level work is imminent, and attributes the permits and the date to Public Works.
The Route From a 2019 Approval to a 2026 Start
Texas-based Genesis Real Estate Group won approval for a project on the site in 2019 and abandoned it in 2022 as construction costs rose and the market weakened, per SFist. The nonprofit Tenderloin Neighborhood Development Corporation went into contract in late 2022 to buy the site for 100 percent affordable housing. That deal collapsed in early 2023 when city funding failed to materialise, per The Real Deal.
4Terra Investments then carried the project through design and most of the permitting phase. The city granted ministerial approval in late 2024 under Assembly Bill 2011, and 4Terra used the State Density Bonus Law to add capacity above the parcel's base zoning of 131 units. The team requested two concessions and seven waivers covering height, unit exposure and rear yard requirements, per SF YIMBY.
Greystar, a South Carolina company, took over development responsibility from 4Terra in August 2026 and provides the institutional financing, per SFist.
The Code-Locking Law and Its Saving
Supervisor Bilal Mahmood championed the SHADE Act. The law lets a stalled project build under the codes in force when it applied, and San Francisco revises that code on a three-year cycle. SFist estimates the change saves this project 5 to 7 percent on construction costs.
Cost figures stay thin. A January 2025 SF YIMBY report on 4Terra put construction at around $85 million, a figure that excludes some development costs. Nothing in the record prices the current job, and that January 2025 report stated that a timeline for work to start had yet to be established.
The Unit Mix and the Four Street-Level Homes
The plan carries 203 residences: 121 one-bedroom and 82 two-bedroom apartments, plus four ground-floor units facing Divisadero Street. SF YIMBY records the count moving from 184 units to 203.
The ground floor also holds the lobby, a fitness centre, a lounge, parking and the retail bay. A five-story annex fills the rear of the lot. Outdoor space comes from a podium-top central courtyard and a rooftop terrace.
Retail on the Corridor Between Oak and Fell
The 1,850-square-foot retail bay sits on a parcel SF YIMBY places along Divisadero Street between Oak and Fell. The site is two blocks from the Panhandle and sits on the Wiggle bicycle route. The building adds parking for 24 cars and 144 bicycles, and the facade uses stone veneer, stucco and wood-look siding with bay windows, balconies and blue accents.
Divisadero Street carries Muni's 24 Divisadero trolleybus, which the operator runs 24 hours daily across Bayview/Hunters Point, Noe Valley and Pacific Heights, with Owl trips in the late-night band.
One lodging address sits on Divisadero Street itself. A bounded sweep of lodging records read on 16 October 2026 put the Metro Hotel at 319 Divisadero Street 92 metres from the site on a straight-line measure. The sweep carries no room counts for any property it returns.
The Parties Behind the Eight Stories
BDE Architecture designed the building. 4Terra Investments sponsored the approved application. Greystar holds development responsibility and the financing. San Francisco Public Works issued the closure permits. The San Francisco Planning Department describes the site as five merged assessor lots at the northeast corner of Divisadero and Oak.
The approved plan sets aside 20 units for households earning 55 percent of Area Median Income. The San Francisco Standard reports estimated monthly rents around $1,400 for a one-bedroom and $1,545 for a two-bedroom.
What the Record Dates and What It Leaves Open
One date on this file is firm: the 19 October 2026 closure start. The record carries no closure end date, no construction duration and no completion date. The financing is unpriced. SFist reports that Greystar provides the institutional financing needed, and no source publishes a loan amount, a lender, a rate or a term.