San Francisco Receives $9 Million For Affordable Housing

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San Francisco was awarded a $9 million award to assist with affordable housing for residents in the region.

SAN FRANCISCO—The California Strategic Growth Council Affordable Housing and Sustainable Growth Communities Program Fall 2015 Funding Round gave a $9 million award to the city of San Francisco for two affordable housing projects.

According to a press release from SF Mayor Edward M. Lee’s office, approximately $2.3 million will go to the Tenderloin Neighborhood Development Corporation Eddy and Taylor Family housing project and $6.5 million will be given to the Mercy Housing 222 Beale Street project at Transbay Block 7 which will assist with 120 affordable residential units.

Mayor Lee released the following statement on Friday, December 18 in response to the news:

“This nearly $9 million investment in affordable housing in San Francisco is an investment in our City’s low income families and residents. I thank Governor Jerry Brown, the Strategic Growth Council’s Acting Executive Director Randall Winston and Chair Ken Alex, and other State legislative representatives for their continued leadership on housing and the environment.

This partnership and investment will help us build more affordable housing for low-income San Franciscans, as well as strengthen our neighborhoods. At the same time, it will help California meet its climate action goals.

We know this is a challenging time for our City with a housing crisis decades in the making that demands our continued and determined leadership. These new affordable homes will help us meet our goal of building, rehabilitating, and preserving 30,000 homes by 2020, with more than half affordable to our City’s struggling low and middle income residents.”