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lign Real Estate had been a quiet player in San Francisco until this year, when the firm’s black‑screen website and lack of public portfolio forced the city’s media to dig deeper. Founders Jason Chadorchi and David Balducci had never appeared in print or given a recorded interview, yet their latest bid to replace a cherished Safeway on the Marina waterfront with a 25‑story tower sparked fierce debate.
In a 30‑minute sit‑down on California Street, the duo explained that their 20‑plus‑year track record of mixed‑use housing in the city underpins their confidence in the Marina plan. They hinted at financing strategies for other Safeway sites—Fillmore, Bernal Heights, and Outer Richmond—without revealing details, noting that San Francisco’s high construction costs make new housing a rare venture. Still, they argued that neighborhoods outside downtown offer “excellent development opportunities” because demand far exceeds supply.
Chadorchi and Balducci avoided painting themselves as villains, refusing to lash back at critics who label them as opportunistic land‑grabbers or accuse the Marina project of turning the waterfront into a “Miami‑style” skyline. “We’re not doing anything bad,” Chadorchi said. “The volume is just at 11 right now.” They insisted that building housing at each site is the right thing, even as Mayor Daniel Lurie and five supervisors condemned the Marina proposal as an affront to the mayor’s rezoning plan and the character of the area.
The Marina project would add 790 units, 86 of which would be affordable, and would close the existing Safeway during construction before reopening on the ground floor of a horseshoe‑shaped building. The plan has ignited a high‑profile feud: State Sen. Scott Wiener and former Supervisor Aaron Peskin have blamed each other for allowing such density, while Lurie’s allies argue that Align is exploiting a loophole, since the application arrived just two days after the city’s rezoning plan—still pending until next year. If the city’s plan overrides state law, Align would have to cut more than 20 floors, a scenario the developers deem unlikely because they filed before the Family Zoning law took effect.
Align’s strategy is to use state density‑bonus statutes, enacted in 2022‑23, which allow housing on commercial sites and limit the city’s ability to delay projects that meet affordability and labor standards. Chadorchi said the firm spent years studying these laws, which effectively removed public meetings from the entitlement process and cut approval times from an average of four years to a matter of months. “If you drive into the city, what you notice is there are no cranes in the sky,” he remarked, crediting Sacramento for anticipating the need.
Safeway will retain ownership of its stores in the Marina, Bernal Heights, and Outer Richmond, while Align will own the structures above. The company has not announced plans to reopen its Fillmore store, closed in early 2025, though its redevelopment at Webster Street includes space for a new grocery outlet. Three of the four Safeways will reopen on the ground floor of Align’s housing projects.
Align’s flagship project, The Chorus, opened in 2022 and houses the City Ballet School. The firm’s history dates back to 2015 when Chadorchi and Balducci left Tishman Speyer—where they had met over two decades ago—to form Align, a name chosen to signal unified direction among investors, contractors, and partners. Their early years involved two affordable housing projects and high‑profile downtown towers such as Lumina, Infinity, and Mira. After a key investor withdrew from a project, Balducci recalled a pivotal conversation in Chadorchi’s office that turned a crisis into a catalyst for growth.
Today, Align employs more than 50 people. Balducci is known for structuring complex deals and interpreting zoning law, while Chadorchi focuses on investor relations and opportunity sourcing. “If someone reads about a project we’re doing and they’re interested in talking with us, chances are Jason already knows them,” Balducci said. “We keep the focus on our projects, not on Align.” They raise capital from banks, pension funds, insurance companies, and foreign investors, having completed five San Francisco projects and one in Walnut Creek, including The Landing (2019) and 2177 Third Street (2020).
Align’s projects are notable for tackling challenging sites. The Landing required excavating asbestos‑laden serpentine rock on a Potrero Hill slope to support 263 homes and underground parking. 2177 Third Street involved cutting into a mountainside, a feat praised by a source who toured the site. While primarily Bay‑Area focused, Align also pursues developments in Los Angeles and Seattle.
In a city where many ambitious projects never break ground, Align’s track record of delivering on bold plans earns it respect among developers and land‑use experts, even if some criticize the founders’ dismissive stance toward residents. State and local regulations have eased development, but political backlash remains significant. Mayor Lurie, five supervisors, and Assemblymember Catherine Stefani have all opposed the Marina Safeway proposal. One anonymous developer warned that the controversy could spur political change, potentially altering the rules that Align currently relies on.
Despite opposition, Chadorchi and Balducci maintain they are simply following pre‑existing laws. In 2017, the Board of Supervisors zoned the nearest residential district to allow one unit per 200 sq ft of lot, equating to over 560 units on Safeway’s 2.6‑acre site. Align plans to tap state density bonuses to add more than 200 units. Once housing construction economics improve, the firm believes it will be first to break ground on projects in high‑density, desirable areas.
“Our goal has always been to build smart projects that shape the skyline and perform well financially,” Chadorchi said. “Housing has always been a primary focus.”
