Greystar Takes Over 203-Unit Housing Project at 400 Divisadero Street in San Francisco

The housing development at 400 Divisadero Street in San Francisco is advancing with real estate firm Greystar taking over as the new development sponsor. Greystar plans to invest in the property, assuming responsibility from 4Terra Investments, which had previously completed much of the design and permitting phases. This change is expected to inject necessary funding and accelerate the project's remaining work.

Initially reported in 2022, the development has faced several delays. The current proposal outlines a 203-unit building, revised from an earlier 184-unit plan. The project involves the demolition of the existing site to construct an 85-foot, eight-story structure, significantly increasing the area's housing and visual density. The building, designed by BDE Architecture, will encompass approximately 194,280 square feet, including 109,800 square feet for residential use, 1,850 square feet for retail, and a 24-car garage.

The 203 residences will feature 121 one-bedroom and 82 two-bedroom units, with 20 units designated as affordable housing. The podium-style building will incorporate a mix of stone veneer, stucco, and wood-look siding, with bay windows and balconies. Located on a 0.79-acre parcel between Oak and Fell Street, along the Wiggle bicycle route, the complex offers access to public transit and is two blocks from the Panhandle park. The successful transfer and progression of this large-scale urban infill project, including its affordable housing component, highlights potential for similar ventures in challenging urban markets.