230 Eddy Street
Affordable housing at the Alexander Residence, which has operated as a HUD-insured Section 8 senior building for over 25 years, was put at risk when the prior owners were given the right to pre-pay their mortgage and opt-out of the Section 8 program. In December 2000, TNDC, in partnership with the San Francisco Redevelopment Agency (SFRA), purchased the Alexander Residence to prevent the displacement of the building’s tenants and insure long-term affordability. SFRA owns the land, while TNDC owns the building and leases the land from SFRA. Continued affordability will now be guaranteed for 99 years. The renovation of the building, financed by SFRA (a commercial loan) and Low Income Housing Tax Credits, included system upgrades, fire and life safety improvements, accessibility upgrades, and quality of life improvements. It was completed in 2004. 18 units are designated for Housing Opportunities for People with AIDs (HOPWA) eligible tenants. The project also created a new commercial space and a new multi-purpose room for tenant use.