The Alexander Residence
230 Eddy St
San Francisco, San Francisco County, California 94102

Call (855) 598-3283, enter extension 13253, then hit #.

Request an Application

Funding Programs

The Alexander Residence was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and Project Based Sec. 8.

Section 8

The Alexander Residence has a project-based Section 8 contract. 178 of the 178 total units at the property receive Section 8 assistance. This means that 100% of the renter households in the property pay no more than 30% of their adjusted income for rent.

The current Section 8 contract was effective on February 01, 2011 and the contract expires on January 31, 2031. The Section 8 contract rent is 101.2% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,412.00 for Zero Bedroom and $1,814.00 for One Bedroom.

28% of California properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 2001 for $1,422,787 with a 10 year value of $14,227,870. The property was placed in service in 2003. 178 of 178 units at The Alexander Residence are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract and a Difficult Development Area qualifying it for additional tax credit financing.

Overview

The Alexander Residence is an affordable apartment community located in San Francisco, California which is located in San Francisco County. The property is located in California's 12th Congressional District served by Representative Nancy Pelosi (D), Senator Kamala Harris (D) and Senator Dianne Feinstein (D).

The Alexander Residence is an apartment community containing 178 rental units. The property contains 46 bedrooms and based on typical apartment occupancy limits, The Alexander Residence is home to not more than 201 persons when fully occupied.

Rent Subsidies

The Alexander Residence provides rental subsidies to renters. The type of subsidy provided to apartment renters in San Francisco, CA by this property is Project Based Sec. 8.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

The Alexander Residence contains a mix of 178 assisted studio and one bedroom apartments for rent. There are 132 Studio and 46 One Bedroom apartments in this property. The unit mix is 74% Studio and 26% One Bedroom apartment rentals. The average bedroom size for The Alexander Residence is 0.26.

California's 12th

Congressional District

178

Total Units

178

Tax Credit Units

178

Project Based Sec. 8 Units

101.2

% of Fair Market Rent

31-Jan-31

Project Based Sec. 8 Contract Expiration

Studio and One

Unit Mix

0.26

Average Bedroom Size

Find More in San Francisco

Search Nearby Affordable Housing

Find More in San Francisco County

Search Nearby Affordable Housing

Find More in California

Search Nearby Affordable Housing

† These counts are estimates based on the data available from HUD. Learn More About Our Data