Real Estate Projects
In 2022, Siavash completed one of the projects he is most proud of and what he believes to be a monumental development for San Francisco. 1830 Alemany, previously known as 915 Cayuga, is a fully self-funded 116-unit residential development in San Francisco whereby Siavash voluntarily constructed 58 affordable housing units, also known as the Below Market Rate (BMR) units as a give back to the City that he felt gave him so much as a new immigrant in this country. Siavash is also proud to say that he provided 5 units dedicated to foster youth, a cause very dear to him and his wife. This groundbreaking partnership with the City marked the first time that a San Francisco developer has voluntarily chosen to self-fund a project with 50% of the units permanently below market rate. The truth is, Siavash wanted to restrict the other 58 units and make them permanent rent-controlled units, but the City was unsure of how to impose this restriction on a new project and therefore, they were not able to fulfill that part of his goal. Alemany’s construction commenced in early 2020, in the midst of the Covid-19 pandemic. While everyone stayed home out of fear of getting covid, Sia went to the jobsite every single day to check on construction and his workers. He made sure that this affordable housing project did not face a single delay. He put his own health at risk to ensure that the City would receive its affordable housing units as soon as possible.
Needless to say, the grand opening of 1830 Alemany Boulevard was a special day in his career, and in his life.
As of 2023, Sia’s rental portfolio, which is predominately located in San Francisco, consists of a total of 115 residential units that are Below Market Rate housing per the guidelines of Mayor’s Office of Housing and Community Development. In addition, Sia’s portfolio includes at least 50 tenants that have San Francisco Housing Authority housing vouchers. He has always welcomed and accepted subsidy housing and oftentimes works directly with these agencies to get the tenant approved with rental assistance. Some of these agencies include Catholic Charities, Bright Corners, Felton Institute, Heluna Health for Veterans, Homeless Prenatal Program. Sia is also proud to say that in all the years as a builder and landlord, he has never Ellis acted any tenant.