San Francisco has been awarded more than $117 million to invest in affordable housing projects, according to a statement from Mayor London Breed's office.
The money will help kickstart three shovel-ready projects, including 98-units at 4200 Geary Blvd, 90-units at Sunnydale Block 3B, and 102-units at 234 Van Ness Ave.
In total, the new investment will support the building of 290 units of affordable housing for families, formerly homeless individuals, public housing residents, seniors, and people with developmental disabilities.
The funding comes from the California Department of Housing and Community Development's California Housing Accelerator Fund, which was given $1.75 billion from the federal American Rescue Plan Act, according to the statement.
"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."
The development on Geary Blvd will be dedicated to veterans and seniors, while the Sunnydale project will have 75 percent of units set aside for public housing residents and will feature retail space.
At the project planned for 234 Van Ness Ave, 25 percent of the units will be reserved for clients of the Golden Gate Regional Center who have developmental disabilities.
"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.
Construction on all three projects is expected to begin in 2023.
Questions, comments or concerns about this article may be sent to email@example.com