The City Secures Over $117 Million in State Funding for Affordable Housing
San Francisco, CA — Today, Mayor London N. Breed announced San Francisco has been awarded more than $117 million in funding from the California Department of Housing and Community Development (HCD). This support was provided by the California Housing Accelerator Fund, which was seeded with a $1.75 billion investment from the federal American Rescue Plan Act.
These dollars will provide the final funding necessary for three key affordable housing projects that will provide 290 of affordable housing for families, formerly homeless individuals, public housing residents, seniors, and individuals with developmental disabilities. These projects include:
- 4200 Geary Blvd, a 98-unit affordable housing project for veterans and seniors, including those who were previously unhoused.
- Sunnydale Block 3B, a 90-unit family housing project with 75% of units set aside for public housing residents and 3,400 square feet of community serving retail along Sunnydale Ave.
- The Kelsey at 234 Van Ness Ave., a 102-unit affordable housing project with 25% of units will be reserved for clients of the Golden Gate Regional Center, a service provider for people with developmental disabilities.
These shovel-ready projects are expected to begin construction in early 2023.
“This funding is an essential tool in our work to deliver more affordable housing in San Francisco,” said Mayor Breed. “While we need to do more work to make it easier to build housing across our entire city, this funding will help us move forward these critical projects so we can get more people housed more quickly. I want to thank the Governor for moving this program forward, and our federal leaders like Speaker Pelosi for delivering the American Rescue Plan.”
Earlier this summer, the City celebrated the groundbreaking of two affordable housing projects funded by the first round of California Housing Accelerator Fund awards. 180 Jones, a 70-unit housing development for low-income residents featuring 35 subsidized units for previously unhoused adults, started construction in June 2022 and is anticipated to welcome its first residents by late 2023. Star View Court, formerly known as Treasure Island Parcel C3.1, was another Accelerator project that broke ground this summer. The 138-unit development was the second affordable project to move forward as part of a larger plan to revitalize and further develop Treasure Island.
“The quick, strategic investments the state has made through the California Housing Accelerator brings us another step closer to the 2.5 million homes needed by 2030, as outlined in our Statewide Housing Plan,” said Gustavo Velasquez, Director of the California Department of Housing and Community Development. “Just one year after Governor Gavin Newsom announced the California Housing Accelerator, HCD has helped partners unlock the ability to construct over 5,000 quality affordable homes that were stuck waiting for funding. Roughly 80 percent of all Accelerator units will be for extremely low to very low-income households and unhoused residents.”