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Year Established


Projects Completed


Residential Units Developed


Value Created


Emerald Fund, a San Francisco based real estate development company, has successfully developed more housing projects and more housing units in San Francisco than nearly any other developer in San Francisco history. Founded in 1979, Emerald has developed 37 projects totaling over 5,500 housing units; 420,000 sq. ft. of office; 400,000 sq. ft. of retail; a 200-room luxury hotel; and over $3 billion of value. These totals include 15 ground up developments and over 3,000 housing units in neighborhoods across San Francisco. Emerald Fund specializes in dense, transit-oriented, urban infill development. Most projects also contain a mix of uses.


Emerald currently manages 1,350 apartments in the San Francisco Bay Area.







S.Osborn (Oz) Erickson, Principal/Chairman 

Oz Erickson founded Emerald Fund in 1979 and has been actively developing projects in the Bay Area since that time. Oz identifies new projects and is involved with the entitlements, financing, project design and sales and marketing. Oz has been recognized with many industry honors including the San Francisco Business Times’ Lifetime Achievement Award for Most Admired CEO in 2013. Oz received a BA degree from Harvard University and a MBA from Stanford University

Marc Babsin, Principal/President

Marc Babsin has been with Emerald Fund since 1999, managing all aspects of the development process including project identification, entitlements, securing equity and debt, project design, construction, lease up, condominium sales, and homeowner association relations. Marc is a licensed attorney (JD cum laude, Harvard Law School), a Certified Public Accountant (bronze tablet, University of Illinois) and holds a masters degree in City Planning (honors, UC Berkeley). 

Tim Vrabel, Principal/CFO

Tim Vrabel joined Emerald Fund in 2006 and oversees the financial affairs of the company encompassing both development and property management activities. Tim is involved in all aspects of securing and managing debt and equity financing including from traditional banks, insurance companies, pension funds, HUD, bonds, and tax credits. Tim received a BS in Finance & International Business from Penn State University and has earned accreditation as a Certified Management Accountant and a Certified Financial Manager. He also holds a California Real Estate Broker's License.

Shane Harris, Principal/Head of Construction

Shane Harris is the head of construction at Emerald Fund. Shane manages all aspects of the building process from schematic design through to completion of construction. Including his 15 years of commercial construction experience at Webcor Builders, Shane has been involved with the design and construction of over 2,500 residential units. Shane is a licensed contractor, a LEED Accredited Professional since 2006 and a recipient of a BS in Civil Engineering from CSU Chico.

Tonia Trapani – Regional Property Manager

Tonia Trapani joined Emerald Fund in 2007. She has over 15 years of experience in Property Management and development. She graduated from Adelphi University,  Garden City, NY with a bachelor of arts degree in Business Administration.

Jean Tse, Director of Accounting & Controller

Jean Tse joined Emerald Fund in 1998.  She has over 20 years of experience in management and accounting. She has worked in various industries including real estate, logistics, and retail.  Ms. Tse holds a Bachelor of Science degree from San Francisco State University.



Emerald Fund, Inc.
155 Montgomery Street, Suite 1100
San Francisco, CA 94104


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